Belarus’ gold and foreign currency reserves hit historic high


According to preliminary data in January-November 2010 Belarus’ gold and foreign currency reserves amounted to an equivalent of $6,807.9 million. Calculated using national terms, the figure is the highest one on record.

In November 2010 Belarus’ gold and foreign exchange reserves grew larger with Chinese yuan funds after the NBRB and the People’s Bank of China accomplished a currency swap deal.

In January-November 2010, as determined by the IMF’s special data dissemination standard, Belarus’ international reserve assets went up by $72.8 million to reach $5,725.3 billion as of 1 December.

Positive changes of the gold and foreign currency reserves enable the National Bank to keep the exchange rate of the Belarusian ruble steady within the limits set by this year’s major monetary management guidelines.

The NBRB and the government intend to continue putting consistent efforts into increasing the country’s gold and foreign exchange reserves. This year the reserves are supposed to gain at least $0.5 billion and at least $1.2 billion next year. The reserves will be increased mainly using foreign investments, better effectiveness and higher competitive ability of the national economy.

According to www.belta.by