Belarus’ gold, forex reserves down 3% to $8.3bn in February

According to the preliminary data, Belarus’ gold and foreign currency reserves totaled $8,264.6 billion as of 1 March 2022, BelTA learned from the Information and PR Department of the National Bank of the Republic of Belarus.

In February 2022, the country’s gold and foreign currency reserves went down by $259.2 million (or 3%) following the January growth of $98.8 million (1.2%).

The decrease in the volume of the gold and foreign exchange reserves in February 2022 was mainly due to the honoring of the foreign and domestic obligations in foreign currency in the amount of over $280 million, and also the deficit in the purchase and sale of foreign currency by the National Bank at the Belarusian Currency and Stock Exchange.

The country’s gold and foreign exchange reserves were bolstered by the increase in the cost of monetary gold, the foreign currency budget revenue, including export duties.

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.