According to preliminary data, in December 2019 Belarus' gold and foreign exchange reserves gained $234.7 million (2.6%)* to reach the equivalent of $9,393.5 million as of 1 January 2020.
On the whole, in 2019 the international reserve assets rose by $2.2 billion (31.2%).
Sources to replenish the reserves:
acquisition of foreign currency via OAO Belarusian Currency and Stock Exchange;
state budget revenues from taxes, duties, and other fees in foreign currencies;
issuance of bonds nominated in foreign currencies.
Meanwhile, the government and the central bank honored external and internal commitments in foreign currencies to the tune of about $4.2 billion in 2019, including about $355 million in December.
(million USD)
1 January – 7,157.6,
1 February – 7,017.7,
1 March – 7,095.1,
1 April – 7,245.6,
1 May – 7,568.4,
1 June – 8,090.0,
1 July – 8,290.7,
1 August – 8,627.9,
1 September – 8,891.0,
1 October – 8,830.9,
1 November – 9,193.8,
1 December – 9,158.9.
In line with the main monetary management guidelines for 2020 the volume of the international reserve assets is supposed to be at least $7.3 billion as of 1 January 2021 taking into account the external and internal commitments the government and the central bank will have to honor.
*In line with methods of the International Monetary Fund.
Source: The National Bank of the Republic of Belarus.