Belarus' Gold And Foreign Exchange Reserves Plummeted By More Than Third Of Billion Dollars

• 7.07.2021, 11:32

The regime's "safety cushion" continues to waste away.

In June 2021, the gold and foreign currency reserves of Belarus decreased by $353.8 million (4.6%) after the growth of $485.2 million (6.7%) in May. As of July 1, gold and foreign currency reserves amounted to $7 billion 409.3 million (in equivalent), reports the Information Office of the National Bank.

According to the regulator, the decline in international reserve assets in June was largely caused by the scheduled repayment of the government's foreign and domestic liabilities in foreign currency by about $240 million, combined with a decrease in the value of monetary gold.

The level of gold and foreign exchange reserves in June was maintained due to the inflow of foreign currency into the budget, including from collecting export duties and attracting funds in foreign currency by the Ministry of Finance.

As of January 1, the gold and foreign exchange reserves of Belarus amounted to $7.468.5 million.

In 2020, the gold and foreign exchange reserves of Belarus decreased significantly - by $1.9 billion, or 20.5% (at the beginning of 2020 - $9.4 billion).