Business news

MINSK, 6 July (BelTA) – Belarus’ gold and foreign exchange reserves totaled $6.83 billion as of 1 July 2018, BelTA learned from the Information and PR Department of the National Bank of the Republic of Belarus (NBRB).

According to the preliminary data, Belarus’ international reserve assets made up $6.831 billion as of 1 July.

In June 2018, gold and foreign exchange reserves decreased by $108.2million (by 1.6%) after a decrease of $98.5million (1.4%) in May 2018. The decrease in the level of international reserve assets in June was due to the scheduled repayment by the National Bank and the government of the Republic of Belarus of the foreign and domestic obligations in foreign currency in the amount of $424 million and also due to the decrease in the price for monetary gold.

Belarus’ gold and foreign exchange reserves were bolstered thanks to the purchase of foreign currency by the National Bank via the Belarusian Currency Stock Exchange, the budget revenues, including export duties on oil and oil products and revenues from selling government bonds nominated in foreign currency by the central bank and the Finance Ministry.

According to the country’s main monetary guidelines for 2018 the volume of international reserve assets, taking into account the honoring of domestic and foreign commitments in foreign currency should reach at least $6 billion on 1 January 2019.