MINSK, 6 October (BelTA) – In September 2015 Belarus' gold and foreign exchange reserves rose by $54.2 million if calculated in accordance with methods of the International Monetary Fund, BelTA learned from the statistics released by the National Bank of the Republic of Belarus.
According to provisional data, Belarus' gold and forex reserves stood at $4,628.6 million as of 1 October.
In national terms the volume of the gold and foreign exchange reserves went up by $17.7 million to $5,042 million as of 1 October.
Representatives of the country's central bank explained that the gold and foreign exchange reserves were bolstered with revenues from selling government bonds, which were nominated in foreign currency and sold by the Finance Ministry and the National Bank. The reserves were also fueled by export duties on oil products and by the National Bank buying foreign currency via the Belarusian Currency and Stock Exchange.
Belarus' gold and foreign exchange reserves were decreased due to the government and the National Bank having to honor domestic and foreign commitments in foreign currency in full. Falling gold prices on the international market of precious metals were also a factor.
