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Belarus' gold, forex reserves up by 9.5% to around $7.1bn

Economy 07.03.2018 | 10:17
An archive photo
An archive photo

MINSK, 7 March (BelTA) – Belarus' gold and foreign exchange reserves rose by 9.5% in February to total almost $7.1 billion as of 1 March 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' gold and foreign exchange reserves totaled $7.093 billion (in equivalent) as of 1 March 2018. In February 2018, the country's gold and foreign exchange reserves went up by $616.1 million (or 9.5%) after the decrease of $837.9 million (or 11.5%) in January,” the National Bank noted.

The increase in the gold and foreign exchange reserves in February was due to the revenues from the sale of eurobonds by the Finance Ministry, sales of bonds denominated in foreign exchange by the National Bank and the Finance Ministry in the domestic market, foreign exchange receipts to the budget, including the revenues from the export duties on oil and oil products, and the purchase of foreign exchange at the Belarusian Currency and Stock Exchange.

The government and the National Bank fulfilled the external and internal obligations in foreign currency in the amount of about $470 million in February.

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

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