Belarus’s gold and foreign exchange reserves set a new record in November. They increased by 177.2 million dollars and reached 13.9 billion dollars as of 1 December. However, the growth rate was more modest than in September and October, when the reserves were rising by 300–400 million dollars per month, which is linked to gold price dynamics.
In November, the increase in reserves was driven by a rise in the value of monetary gold. Over the month, it grew by 314.8 million dollars and reached nearly 7.26 billion dollars. Other components of the reserves declined. The value of Special Drawing Rights fell by 11.8 million dollars to almost 1.4 billion dollars, and reserve assets in national currency decreased by 125.9 million dollars to 5.24 billion dollars. The reserve position in the IMF and other assets did not change, standing at 0.03 million and 0.1 million dollars respectively.
Since the beginning of the year, the reserves have grown by almost 4.98 billion dollars, including an increase of 2.73 billion dollars in the value of gold, 51.8 million dollars in Special Drawing Rights, and 2.19 billion dollars in foreign currency assets.
