EDB explains growth of Belarus’ gold and forex reserves
10:00, 6 October
Photo: BELTA
The Eurasian Development Bank (EDB) analysts have identified the reasons for the increase in Belarus’ gold and foreign exchange reserves, BelTA reports citing the EDB’s macroeconomic review.
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Belarus’ gold and foreign exchange reserves have achieved another historic high, reaching $13.3 billion at the start of October.
In its analysis, the Eurasian Development Bank remarked: “The key factor was a $690.4 million increase in the value of monetary gold within the reserves’ structure, driven by rising global prices, which grew by 11.6%.”
Foreign currency reserve assets increased by $176.1 million. Since the beginning of the year, gold and foreign exchange reserves have grown by $4.4 billion, with more than half of this increase driven by an increase in foreign currency reserve assets.
