Belarus' gold, forex reserves down by 4.6% to $7.4bn in June

According to the preliminary data, Belarus' gold and foreign currency reserves totaled $7,409.3 billion as of 1 July 2021, BelTA learned from the Information and PR Department of the National Bank of the Republic of Belarus.

In June 2021, the country's gold and foreign currency reserves went down by $353.8 million (by 4.6%) following the May growth of $485.2 million (6.7%).

“The decrease in the volume of the gold and foreign exchange reserves in June 2021 was mainly due to the planned repayment by the government of foreign and domestic obligations in foreign currency in the amount of over $240 million, and also due to the decrease in the cost of monetary gold,” the National Bank said.

In June 2021 the level of gold and foreign exchange reserves was maintained thanks to the foreign currency budget revenue, including revenues from export duties, and the Finance Ministry’s borrowings in foreign currency.

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