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Belarus' Gold and Forex Reserves

Belarus' Gold and Forex Reserves

08.09.2017 | 14:34

In August 2017 Belarus' gold and foreign currency reserves went up by $328.8 million (4.9%) to total $6.9 billion* as of 1 September 2017: ($ million)

1 January 2017 – 4,927.2

1 February 2017 – 4,985.0

1 March 2017 – 5,022.3

1 April 2017 – 5,016.1

1 May 2017 – 5,108.7

1 June 2017 – 5,238.9

1 July 2017 – 6,561.0

1 August 2017 – 6,664.8

1 September 2017 – 6,993.6

Belarus' gold and foreign exchange reserves were bolstered thanks to the revenues from export duties on oil and oil products, an increase in the volume of foreign currency on the banks' correspondent accounts in the National Bank, an increased cost of the monetary gold, revenues from selling government bonds nominated in foreign currency by the central bank, and also foreign currency purchases by the regulator via the Belarusian Currency and Stock Exchange.

The country's monetary policy for 2017 envisages the growth of gold and forex reserves by at least $500 million.

*Preliminary data

Source: Information and PR Department of the National Bank of the Republic of Belarus