Belarus gold, forex reserves at $8.2bn in IMF terms

MINSK, 7 December (BelTA) – According to provisional data, as of 1 December 2012 Belarus’ gold and foreign exchange reserves totaled $8,224 million as determined by the Special Data Dissemination Standard (SDDS) of the International Monetary Fund, up from $8,039.7 million on 1 November 2012, representatives of the National Bank of the Republic of Belarus told BelTA.

The growth has been achieved by an increase in foreign currency reserve assets ($102.7 million up to $3,268.2 million) and gold coin assets ($87.6 million up to $2,370.3 million)

In national terms the gold and foreign exchange reserves amounted to the equivalent of $8,913.8 million as of 1 December, up from $8,718.8 million on 1 November 2012.

The growth of the gold and foreign exchange reserves has been fueled by the floatation of foreign currency bonds of the Belarusian Foreign Ministry on the domestic market as well as the surplus of the National Bank’s foreign currency trade operations at the Belarusian Currency and Stock Exchange, representatives of the Information and Public Relations Office of the National Bank told BelTA.

Meanwhile, in November 2012 the National Bank and the Belarus government fully honored their domestic and foreign commitments in foreign currency, stressed the source.

Earlier the National Bank of the Republic of Belarus had stated repeatedly that the country’s gold and foreign exchange reserves will be at least $8.2 billion at the end of 2012.