MOSCOW: Belarus’ gold and foreign exchange currency reserves were supported by revenues from customs duties on oil products.
The gold and foreign exchange reserves were also supported by the Finance Ministry floating forex bonds on the home market.
The volume of the gold and foreign exchange reserves was reduced due to the government and the National Bank honoring domestic and foreign commitments in foreign currency in full and due to falling gold prices on the international market of precious metals.
Calculated in accordance with methods of the International Monetary Fund (IMF), Belarus’ gold and foreign exchange reserves dropped by $73.5 million in February to stand at $4,651.2 million as of 1 March 2015 according to preliminary data. In national terms the volume of the gold and foreign exchange reserves shrank by $266.5 million to reach $5,255.9 million as of 1 March according to preliminary data.
