Gold & Forex Reserves of Belarus Rose by $42.6 million in June

nsnbc : The Information and PR Department of the National Bank of the Republic of Belarus reported that in June, the country’s gold and foreign exchange reserves rose by $42.6 million.

Photo courtesy of BelTa

Photo courtesy of BelTa

If calculated in accordance with methods of the International Monetary Fund. According to preliminary data, the reserves totaled $4,314.2 million as of 1 July, reports the bank.

In national terms the volume of the gold and foreign exchange reserves grew by $174.4 million to $4,791.5 million as of 1 July 2016. The national bank stated that:

“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 central bank, foreign currency purchases by the regulator via the Belarusian Currency and Stock Exchange, and also revenues from export duties on oil and oil products.”

The national bank also stated that the Belarusian government and the National Bank of Belarus honored domestic and foreign commitments in foreign currency in full, which was the main reason affecting the volume of gold and foreign currency reserves.

F/AK – nsnbc 09.07.2016

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