NATIONAL BANK OF THE REPUBLIC OF BELARUS

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11/04/2017

PRESS RELEASE

Gold and foreign exchange reserves of the Republic of Belarus were preserved at the level exceeding USD5 billion as at April 1, 2017

As at April 1, 2017, the volume of gold and foreign exchange reserves of the Republic of Belarus on the IMF’s SDDS definition totaled USD5,016.1 million (in equivalent) according to the preliminary data.

In March 2017, gold and foreign exchange reserves dropped by USD6.2 million (by 0.1%) following their growth in February 2017 by USD37.3 million (by 0.7%). In 2017 Q1, the above-mentioned reserves grew by USD88.9 million (1.8%).

The volume of gold and foreign exchange reserves on the national definition totaled USD5,409.1 as at April 1, 2017, having dropped over March by USD199.3 million (by 3.6%) following their growth in February 2017 by USD214.2 million (by 4.0%). In January-March, the reserves in the national definition grew by USD224.1 million, or by 4.3%.

The planned repayment of external and internal foreign exchange obligations of the Government and the National Bank of the Republic of Belarus and reduction in the market price of gold in the international precious metals market made a constraining impact on the dynamics of reserves.

Receipt of funds from the sale of bonds denominated in foreign exchange, revenues from collection of export duties on oil and oil products, as well as purchase of foreign exchange by the National Bank at the trades of OJSC "Belarusian Currency and Stock Exchange" contributed to the maintenance of the level of gold and foreign exchange reserves in March.

In 2016, gold and foreign exchange reserves of the Republic of Belarus on the IMF’s SDDS definition went up by USD751.4 million (by 18.0%) up to USD4,927.2 million in the equivalent as of January 1, 2017. The Monetary Policy Guidelines for 2017 stipulate the growth of gold and foreign exchange reserves in the IMF’s SDDS definition by no less than USD500 million.




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