NATIONAL BANK OF THE REPUBLIC OF BELARUS

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07/12/2017

PRESS RELEASE

On December 1, gold and foreign exchange reserves of the Republic of Belarus exceeded USD7.4 billion

As of December 1, 2017, the volume of gold and foreign exchange reserves of the Republic of Belarus according to the preliminary data totaled USD7,413.7 million in the equivalent.

In November 2017, gold and foreign exchange reserves increased by USD18.4 million (by 0.2%) following the growth in October 2017 by USD128.6 million (by 1.8%). In January-November, the increase in reserves amounted to USD2,486.5 million (50.5%).

Receipt of funds in foreign exchange to the budget, including export duties on oil and oil products and the sale of bonds denominated in foreign exchange by the National Bank and the Ministry of Finance were the main factors of growth in the level of gold and foreign exchange reserves in November. An increase in the value of monetary gold had a positive impact on the level of reserves as well.

The Government and the National Bank in November 2017 fulfilled external and internal foreign exchange obligations worth about USD314 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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