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07 June 2022, 10:54

Belarus' gold, forex reserves down 4.5% to $7.4bn in May

MINSK, 7 June (BelTA) - According to the preliminary data, Belarus' gold and foreign currency reserves totaled $7,409.6 million as of 1 June 2022, BelTA learned from the Information and PR Department of the National Bank of the Republic of Belarus.

In May 2022, the country's gold and foreign currency reserves went down by $351.5 million (or 4.5%) following the April growth of $189.4 million (2.5%).

“The decrease in the volume of the gold and foreign exchange reserves in May 2022 was mainly due to the honoring of the foreign and domestic obligations in foreign currency in the amount of over $135 million, and revaluation of monetary gold in foreign currency,” the central bank said.

The country's gold and foreign exchange reserves were bolstered by the purchase of foreign currency by the National Bank at the Belarusian Currency and Stock Exchange.

According to the country's monetary guidelines for 2022, the volume of international reserve assets is expected to make up at least $7 billion on 1 January 2023.

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