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Gold and Forex Reserves fall below psychological level of $5 billion

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Gold and Forex Reserves fall below psychological level of $5 billion

On February 1 gold and forex reserve of Belarus makes up $4724.7 million.

In January gold and forex reserves of Belarus lost $334.5 million after $760 million decline in December last year. And thus, they fell below psychological level of $5 billion.

On February 1 gold and forex reserve of Belarus makes up $4724.7 million, National Statistical Committee of the Republic of Belarus reports.

On January 1, 2015 gold and forex reserves were estimated at $5.059 billion, and on January 1, 2014 - $6.651 billion, AFN writes.

Adopted in December government measures to stabilize the foreign exchange market, only nourishing the already high demand for currency, continued buying of currency in terms of its deficit, the lack of sufficient volume both of external and internal sources for currency borrowing against significant costs for serving foreign debt became the reasons, beyond pragmatic understanding, for further decline of gold and forex reserves in January.

It may be noted that several times corrected and adjusted authorities' measures gave nothing, and monetary boom slowed down only because most people simply ran out of free money.

On February 1, 2015 as a part of gold reserves, forex exchange assets amounted to $2509.3 million, having decreased by $373.5 million in January 2015. Monetary gold rose by $43.6 million to $1680.7 million. On February 1 other assets increased by $10.0 million to $10.5 million. SDR (special drawing rights IMF) decreased by $14.5 million and amounted to $524.2 million on February 1, 2015.

The level of international reserves of $5 billion is a kind of Rubicon for the Belarusian authorities, which it is not worth falling below because: providing of so-called security, as well as the requirement of the same EURASEC Anti-Crisis Fund, the last their tranche of the credit of $440 million the Belarusian authorities still would like to receive.

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