NATIONAL BANK OF THE REPUBLIC OF BELARUS

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07/09/2017

PRESS RELEASE

On September 1, gold and foreign exchange reserves of the Republic of Belarus exceeded USD6.9 billion

As of September 1, 2017, the volume of gold and foreign exchange reserves of the Republic of Belarus according to the preliminary data totaled USD6,993.6 million in the equivalent.

In August 2017, gold and foreign exchange reserves increased by USD328.8 million (by 4.9%) following the growth in July 2017 by USD103.8 million (by 1.6%). In January-August, the increase in reserves amounted to USD2,066.4 million (42%).

Receipt of funds in foreign exchange to the budget, including export duties on oil and oil products, growth in the volume of funds in foreign currency on banks’ correspondent accounts with the National Bank, increasing price for monetary gold, receipt of funds from the sale of bonds by the National Bank of the Republic of Belarus denominated in foreign exchange, as well as a purchase of foreign exchange by the National Bank at the JSC "Belarusian Currency and Stock Exchange" were the main factors of growth in the level of gold and foreign exchange reserves in August.

The Government and the National Bank in August 2017 fulfilled external and internal foreign exchange obligations worth about USD135 million.

Over 2016, gold and foreign exchange reserves of the Republic of Belarus on the IMF’s SDDS definition grew by USD751 million (by 18%) amounting as of January 1, 2017 to USD4,927.2 million (in the equivalent). Monetary Policy Guidelines for 2017 stipulate the growth of gold and foreign exchange reserves on the IMF’s SDDS definition by no less than USD500 million.




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