Belarus’ gold, forex reserves up 1.3% to $7.5bn in June

According to the preliminary data, Belarus’ gold and foreign currency reserves totaled $7,506.2 million as of 1 July 2022, BelTA learned from the Information and PR Department of the National Bank of the Republic of Belarus.

In June 2022, the country’s gold and foreign currency reserves went up by $96.6 million (or 1.3%) following the May drop of $351.5 million (4.5%).

“In June the country honored its foreign and domestic obligations in foreign currency to the amount of about $210 million in equivalent. The revaluation of monetary gold and special drawing rights by the International Monetary Fund had a negative impact on the amount of international reserve assets,” the central bank said.

The country’s gold and foreign exchange reserves were bolstered by the purchase of foreign currency by the National Bank at the Belarusian Currency and Stock Exchange.

According to the country’s monetary guidelines for 2022, the volume of international reserve assets is expected to make up at least $7 billion on 1 January 2023.