World Economy

Belarus Gold, Forex Reserves Up

Belarus Gold, Forex Reserves UpBelarus Gold, Forex Reserves Up

In February 2016 Belarus’ gold and foreign exchange reserves rose by $84.2 million if calculated in accordance with methods of the International Monetary Fund. According to preliminary data, the reserves totaled $4,111 million as of March 1, BelTA said according to the statistics released by the National Bank of the Republic of Belarus. In national terms the volume of the gold and forex reserves grew by $99.5 million to $4,375.2 million as of March 1. Belarus’ gold and forex reserves were bolstered through revenues from selling government bonds nominated in foreign currency by the finance ministry and the central bank, and from rising prices for gold on the international market of precious metals, foreign currency purchases by the regulator via the Belarusian Currency and Stock Exchange and revenues from export duties on oil and oil products.