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13 Jan 2020

Belarus’ gold reserves at 42.2t in 2019

Belarus’ gold reserves at 42.2t in 2019

MINSK, 13 January (BelTA) – Belarus’ gold reserves totaled 42.2 tonnes (in gold equivalent) in 2019, BelTA learned from the National Bank of Belarus.

Over the past year, the gold reserves rose by 1 tonne (to total 41.2 tonnes on 1 January 2019).

The gold reserves comprise precious metals in the form of bank bullion bars. They are managed by the country's central bank and are part of the state fund of precious metals and precious stones of Belarus.

Availability of gold reserves supports the confidence of residents and non-residents of Belarus in the National Bank and the government's ability to meet the financial obligations and to conduct a monetary policy. Precious metals can be sold, exchanged or used in settlements, should such a need arise.

The valuables of the gold reserves are stored in the central vault of the National Bank, on accounts and deposits abroad.

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