Gold Reserves Decrease By $ 282,3 Million

At the end of 2018, the decrease in gold reserves amounted to 2.2%.

According to the preliminary data, the gold and foreign exchange reserves of Belarus as of January 1, 2019 amounted to $ 7,157.6 million in the equivalent, the National Bank reports, “Belarus I Mir” writes.

In December, the gold and foreign currency reserves decreased by $ 282.3 million, or by 3.8 percent, after rising by 332.3 million, or by 4.7 percent, in November.

At the same time, the government and the National Bank fulfilled foreign and domestic obligations in foreign currency in the amount of about $ 940 million, including $ 470 million ahead of schedule.

Maintaining the level of reserves in December was facilitated by the flow of foreign currency into the budget, including from levying export duties on oil and oil products; as well as by the receipt of funds from the sale of foreign currency bonds by the National Bank and the Ministry of Finance, the purchase of foreign currency by the National Bank on the stock exchange. Plus was the increase in the value of monetary gold.

In general, by the end of 2018, the reduction in gold reserves amounted to $ 157.7 million, or 2.2 percent. At the same time, the government and the National Bank fulfilled foreign exchange obligations in the amount of about 5.7 billion.

Replenishment of reserves was mainly due to non-debt sources: budget receipts of taxes, duties and other payments in foreign currency, as well as purchases of foreign currency in the domestic market.

The issuance by the National Bank and the Ministry of Finance of foreign currency bonds at the domestic market and receipt of funds from the placement of Eurobonds at external markets had positive influence on the gold reserves.

In accordance with the “Main Guidelines of Monetary Policy for 2019,” the volume of reserves should be at least $ 7.1 billion as of January 1, 2020.