Belarus' gold, forex reserves down by 0.4% to $8.5bn in September

Belarus' gold, forex reserves down by 0.4% to $8.5bn in September

Belarus' gold, forex reserves down by 0.4% to $8.5bn in September / bne IntelliNews

By bne IntelliNews October 18, 2021

Belarus' gold and foreign currency reserves totalled $8,459.9bn as of 1 October, 2021, according to the National Bank of the Republic of Belarus (NBRB) preliminary data, reports BelTA.

In September 2021, the country's gold and foreign currency reserves fell by $36.8mn (0.4%) following the August growth of $1,405.3mn (14.2%).

“The decrease in the volume of the gold and foreign exchange reserves in September 2021 was mainly due to the planned repayment by the government of foreign and domestic obligations in foreign currency in the amount of over $240mn, and also due to the decrease in the cost of monetary gold. In September 2021 the level of gold and foreign exchange reserves was maintained thanks to the foreign currency budget revenue and the purchase of foreign currency by the National Bank via the Belarusian Currency Stock Exchange,” the National Bank said.

According to the country's monetary guidelines for 2021, the volume of international reserve assets is expected to make up at least $6bn on 1 January, 2022.

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