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Belarus’ gold, forex reserves at $7bn

MINSK, 7 February (BelTA) - According to the preliminary data, Belarus’ gold and foreign currency reserves totaled $7,017.7 million as of 1 February 2019, if calculated in accordance with methods of the International Monetary Fund, BelTA learned from the Information and PR Department of the National Bank of the Republic of Belarus.

In January 2019, the country’s gold and foreign currency reserves went down by $139.9 million (or 2%).

In January 2019, 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 $650 million.

Belarus’ gold and foreign exchange reserves were bolstered thanks to the budget revenues, including export duties on oil and oil products, the increased cost of monetary gold, revenues from selling government bonds nominated in foreign currency by the central bank.

According to the country’s main monetary guidelines for 2019, the volume of international reserve assets is expected to make up at least $7.1 billion on 1 January 2020.

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