NATIONAL BANK OF THE REPUBLIC OF BELARUS

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07/02/2018

PRESS RELEASE

On February 1, gold and foreign exchange reserves of the Republic of Belarus totaled USD6.5 billion

As of February 1, 2018, the volume of gold and foreign exchange reserves of the Republic of Belarus according to the preliminary data accounted for USD6,477.4 million in the equivalent.

In January 2018, gold and foreign exchange reserves decreased by USD837.9 million (by 11.5%).

The scheduled fulfillment of external and internal foreign exchange obligations worth about USD1.4 billion by the Government and the National Bank of the Republic of Belarus, of which USD835.8 million accounted for liabilities of the Republic of Belarus under government bonds placed in the international financial market, resulted in the decrease in the level of gold and foreign exchange reserves in January.

Proceeds from the sale of bonds denominated in foreign exchange by the National Bank and the Ministry of Finance and receipt of funds in foreign exchange to the budget, including export duties on oil and oil products, were conductive to maintaining the level of gold and foreign exchange reserves in January. An increase in the value of monetary gold had a positive impact on the level of reserves as well.

Over 2017, gold and foreign exchange reserves of the Republic of Belarus on the IMF’s SDDS definition grew by USD2.4 billion (by 48.5%) amounting to USD7,315.3 million (in the equivalent).

According to Monetary Policy Guidelines for 2018, the volume of gold and foreign exchange reserves as of January 1, 2019, taking into account the repayment of foreign exchange internal and external obligations by the Government of the Republic of Belarus and the National Bank, should be at least USD6 billion.




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