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Friday, October 20, 2017

Republic of Belarus reports dip in gold reserves

The Republic of Belarus recently reported a decrease in gold reserves to $214.9 million as of the end of August.

According to preliminary data, gold reserves totaled $7,712.0 million in the equivalent in September.

There was a $134 million drop in the amount of national foreign exchange reserves on September 1, amounting to $8,430.4 million in the equivalent.

The decrease in the volume of foreign exchange reserves has had an effect on the redemption of the Government and the National Bank of the Republic of Belarus, foreign and domestic foreign currency liabilities in full.

There was an increase in gold prices in the international market of precious metals due to the maintenance of reserves in August of this year. This also contributed to the placement of foreign currency bonds of the Ministry of Finance of the Republic of Belarus in the domestic market.