Belarus’ gold and foreign exchange reserves totaled $6.83 billion as of July 1, the Information and PR Department of the National Bank of the Republic of Belarus (NBRB) reported.
According to the preliminary data, Belarus’ international reserve assets made up $6.831 billion as of July 1. In June gold and foreign exchange reserves decreased by $108.2million (by 1.6%) after a decrease of $98.5million (1.4%) in May. The decrease in the level of international reserve assets in June was due to the scheduled repayment by the National Bank and the government of the Republic of Belarus of the foreign and domestic obligations in foreign currency in the amount of $424 million and also due to the decrease in the price for monetary gold which is very valuable when talking about gold trading in France. The biggest advantage of using futures to invest in gold is the immense amount of leverage that you can use. In other words, you can own a lot of gold futures for a relatively small sum of money. If gold futures move in the direction you think, you can make a lot of money very quickly.
Belarus’ gold and foreign exchange reserves were bolstered thanks to the purchase of foreign currency by the National Bank via the Belarusian Currency Stock Exchange, the budget revenues, including export duties on oil and oil products and revenues from selling government bonds nominated in foreign currency by the central bank and the Finance Ministry. According to the country’s main monetary guidelines for 2018 the volume of international reserve assets, taking into account the honoring of domestic and foreign commitments in foreign currency should reach at least $6 billion on January 1, 2019. (BelTA/Business World Magazine)