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Gold and foreign exchange reserves in July up USD 100 million

Statistics
18:29 | 09.08.2017 | Business-News

As at August 1, 2017, Belarus' gold and foreign exchange reserves amounted, according to the preliminary data of the National Bank, to USD 6,664.8 million, having increased over July by USD 103.8 million or 1.6%.

 

The receipt of funds from the sale of bonds denominated in foreign exchange by the National Bank, purchase of foreign exchange by the National Bank at Belarusian Currency and Stock Exchange JSC, an increase in the volume of funds in foreign exchange in the banks' correspondent accounts with the National Bank, as well as an increase in the price of monetary gold were conducive to the growth in international reserve assets in July.

 

In July, the Government and the National Bank executed external and domestic liabilities in foreign exchange worth USD 533 million.

 

According to the data of the Republican Central Securities Depository, the liabilities of the National Bank amounted to USD 200 million in July. It means that the external public debt liabilities of Belarus in July equaled to USD 330 million.

 

According to the data of the Republican Central Securities Depository, the National Bank in July sold foreign exchange bonds and received USD 100 million. The Ministry of Finance did not attract foreign exchange using its securities in July this year.

 

According to the data of the National Bank, the population in July sold USD 108.5 million on a net basis. The economic entities in July bought USD 70.9 million on a net basis (residents sold USD 42.2 million and non-residents sold USD 28.7 million). The total net domestic sales of foreign exchange amounted to USD 179.4 million.

 

Thanks to the world gold price growth, monetary gold in July rose by USD 35 million. The receipts of export oil duties amounted to about USD 120 million.

 

 

Receipts/gain, USD million

Payment/decrease, USD million

Currency market

180

 

National Bank

100

200

Public debt

 

330

Gold

35

 

Oil duties

120

 

Total

 

95

 

Therefore, reserves decreased by almost USD 100 million; although, it was stated that they would increase by USD 100 million. It is most likely that USD 300 million returned to gold and foreign exchange reserves. They were transferred from there last month. Therefore, funds attracted in the foreign markets in June will be used to adjust the volume of Belarus' gold and foreign exchange reserves.

 

The dynamics of structure of gold and foreign exchange reserves repeated the previous movements between reserve assets in foreign exchange and other reserves when the Government solved the important economic tasks. For this purpose, other assets were transferred to reserve assets in foreign exchange and then returned when the required transactions were made.

Taking into account major receipts in June, other assets grew to USD 945 million.

 

Belarus' external public liabilities are not high. Therefore, the Government and the National Bank do not need to attract large amounts of foreign exchange. Receipts from export oil duties and purchase of foreign exchange in the domestic market will maintain the level of gold and foreign exchange reserves.

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