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Belarus’ gold, forex reserves up 1.2% to $7.9bn in April

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MINSK, 7 May (BelTA) - According to the preliminary data, Belarus’ gold and foreign currency reserves totaled $7,882.9 million as of 1 May 2020, BelTA learned from the Information and PR Department of the National Bank of the Republic of Belarus.

In April 2020, the country’s gold and foreign currency reserves went up by $96.2 million (or 1.2%) following the March decline of $1,018.4 million (11.6%).

The growth in the international reserve assets in April was driven by the purchase of foreign currency at the Belarusian Currency Stock Exchange by the National Bank. Belarus’ gold and foreign exchange reserves were bolstered thanks to higher prices for monetary gold, the budget revenue in the foreign currency, and revenues from selling government bonds nominated in foreign currency by the Finance Ministry.

In April the National Bank and the government of the Republic of Belarus honored the foreign and domestic obligations in foreign currency in the amount of about $317 million.

According to the country’s main monetary guidelines for 2020, the volume of international reserve assets is expected to make up at least $7.3 billion on 1 January 2021.

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