Net Foreign Assets of the National Bank Decreased by $1 Billion

Net foreign assets of the Belarusian National Bank totaled $2.56 billion (Br12.72 trillion) on June 1, 2011. They have declined by 28% — Br995.5 million since early year. Only in May they were reduced by 9.6% or Br272.1 million (9.6%). However, the ruble assets of the National Bank have risen by Br2.06 trillion or 19.4%, says the National Bank.

The volume of net foreign assets in freely convertible currency totaled 2.51 billion on June 1, in the partially convertible currency — $42.7 million.

The reduction in net foreign assets during this period was the result of reduction in gross foreign assets by $1.09 billion (20%) to $4.35 billion despite the fact that liabilities also decreased — by $90.9 million (4.8%) to $1.79 billion.