Belarus’ international reserve assets have increased over the past month, despite the fall in gold prices on the global market. This is reported in the next review of the Eurasian Development Bank (EDB).
It is noted that the reserves of monetary gold in the gold and foreign exchange reserves (gold reserves) of the republic decreased by $ 50.6 million in August. According to the EDB, the reason for this is the drop in world gold prices for the month by 1.4%. At the same time, in general, the gold reserves of Belarus increased, which was due to an increase in foreign currency reserves by $ 100.7 million.
Recall that by the end of August, the gold reserves of Belarus increased by 0.2% and reached $ 7,991.2 million. In the previous months of 2023, the volume of reserves ranged from about $ 7.8 billion to $ 8 billion, and the maximum was recorded at the end of January — about $ 8.1 billion, then there was a decrease in the amount, and growth began in July. At the end of July, Dmitry Murin, a member of the board, head of the Main Monetary Policy and Economic Analysis Department of the National Bank of Belarus, stated that currency was being bought to maintain the gold reserves. In general, Minsk expects that the total amount of gold reserves in dollar equivalent by the end of this year will be at least $ 6 billion.
A source: https://e-cis.info/news/567/111945/
