Belarus' gold and foreign currency reserves decrease USD 1.4 bln. in August

Belarus' gold and foreign currency reserves decrease USD 1.4 bln. in August
  • Clock-gray 12:53
  • calendar-gray 07 September 2020

Belarus' gold and foreign currency reserves totaled $7,457.8 billion (in equivalent) as of 1 September 2020, according to the Information and PR Department of the National Bank of the Republic of Belarus, APA-Economics reports citing BelTA.

 

In August 2020, the country's gold and foreign currency reserves went down by $1,399.6 million (or 15.8%), after being $61.8 million (0.7%) up in July.

 

The decrease in the country's gold and foreign exchange reserves in August was due to the National Bank's sale of the foreign currency at the trading of the Belarusian Currency Stock Exchange. The government and the National Bank of the Republic of Belarus honored the foreign and domestic obligations in foreign currency in the amount of about $351.7 million.

 

“Belarus' gold and foreign exchange reserves were bolstered thanks to the revenues from selling government bonds nominated in foreign currency by the Finance Ministry and the budget revenue in the foreign currency,” the bank said.

 

According to the country's main monetary guidelines for 2020, the volume of international reserve assets is expected to make up at least $7.3 billion on 1 January 2021.

Mirsaid İbrahimzade

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