EDB links reduced gold share in Belarus’ international reserves to price drop
January 13, Pozirk. A 1.6-percent decline in the price of gold is attributed to a reduced share of gold within the Belarusian gold and foreign exchange reserves last month, the Eurasian Development Bank (EDB) said in its recent weekly macroeconomic report.
Belarus’ gold and foreign exchange reserves rose by $128 million in December to $8.9 billion on January 1, according to preliminary data from the National Bank.
Last month, monetary gold reserves fell by $72 million and reserves under special drawing rights, by 6.4 million but foreign currency reserves rose by $206 million.
Belarus’ gold and foreign exchange reserves were projected to amount to at least $6 billion in 2024 and exceed $7 billion in 2025.
Belarusians net sellers of foreign currency in 2024
January 10, Pozirk. Belarusians sold $12.8 billion and bought $11.1 billion worth of foreign cash last year, the National Bank reported. Net foreign currency sales exceeded purchases by $1.7 billion. Belarus’ gold and foreign exchange reserves rose by $198 million …