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Belarus’ gold, forex reserves at record high of $8.9bn

MINSK, 6 September (BelTA) - According to the preliminary data, Belarus’ gold and foreign currency reserves totaled a record high of $8,891 billion as of 1 September 2019, BelTA learned from the Information and PR Department of the National Bank of the Republic of Belarus.

In August 2019, the country’s gold and foreign currency reserves went up by $263.1 million (or 3%) following the July growth of $337.2 million (4.1%). 

In August 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 $550 million.

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

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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