Belarus’ gold, FX reserves up 14.2% in Aug 2021 to $8.497bn

<p> MINSK, Sep 7 - PrimePress. Belarus’ gold and foreign exchange reserves calculated in accordance with methods of the International Monetary Fund totalled $8.497 billion as of Sep 1, 2021, up 14.2% month on month, says the Information and PR Department of the National Bank of Belarus (NBB). </p> <p>   </p> <p> “The increase in the level of foreign exchange reserves in August was mainly due to the allocation of Special Drawing Rights (SDRs) of the International Monetary Fund (IMF), the purchase of foreign currency by the National Bank at the Belarusian Currency and Stock Exchange, and also the inflow of foreign currency into the budget,” reads the statement. </p> <p>   </p> <p> According to the National Bank, in Aug 2021 the government fulfilled foreign and domestic obligations in foreign currency in the amount of about $340m. </p> <p>   </p> <p> Reserve assets in the form of monetary gold grew in Aug 2021 by 1.6% to $2.987 billion; in the form of special drawing rights - up 2.7 times to $1.458 billion; in foreign exchange - up 33.3% to $4.002 billion. Other reserve assets decreased by 19.5 times in Aug 2021 to $49.6 billion. </p> <p>   </p> <p> Reserve assets in the form of monetary gold decreased in Jan-Aug 2021 by 1.8%; in the form of special drawing rights - increased by 2.7 times; in foreign exchange - increased by 35.2%; other reserve assets decreased by 18.8 times. </p> <p>   </p> <p> In accordance with the 2021 guidelines for Belarus’ monetary management policy, Belarus’ gold and foreign exchange reserves were supposed to reach at least $6 billion as of Jan 1, 2022. </p> <p>   </p> <p> As previously reported, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion on August 2, 2021, to boost global liquidity. The quota for Belarus is 0.14%, and based on that calculation Belarus has received an SDR equivalent of about $920 million. </p> <p>   </p> <p> Belarus’ international reserves calculated in accordance with methods of the International Monetary Fund stood at $7.469bn as of Jan 1, 2021, U.S. $9.394bn as of Jan 1, 2020; $7.158 billion as of Jan 1, 2019; at $7.315bn as of Jan 1, 2018; $4.927bn as of Jan 1, 2017; $4.176bn as of Jan 1, 2016; $5.059bn as of Jan 1, 2015; $6.651bn as of Jan 1, 2014; $8.095bn as of Jan 1, 2013. End </p>

2021-09-08

Primepress