Belarus’s gold and foreign exchange reserves have set a new record. In October, they increased by USD 441 million to reach USD 13.725 billion as of November 1, according to the National Bank.
As in previous months, the main driver of the growth was gold prices. The value of monetary gold included in the reserves rose by USD 315.3 million in October to USD 6.94 billion as of November 1. In October, global gold prices exceeded USD 4,000 per ounce for the first time.
Foreign currency reserve assets increased by USD 124.8 million in October to USD 5.37 billion. The value of SDRs rose by USD 1 million to USD 1.41 billion. The reserve position in the IMF and other assets remained unchanged, amounting to USD 0.03 million and USD 0.1 million respectively.
Since the beginning of the year, the reserves have grown by USD 4.8 billion, including an increase of USD 2.42 billion in the value of monetary gold, USD 2.32 billion in foreign currency reserve assets, and USD 63.6 million in SDRs.