Belarusian GCR Decreased by $123 Million in November

02.12.2010 10:27
Архив Редакция

According to the preliminary data, international reserve assets in the determination of the IMF Special Data Dissemination Standard increased by $72.8 million in January-November 2010, amounting to the equivalent of $5.725 billion on December 1, but showing the decline of $122.9 million (1.8%) in November.

As it became known to Telegraf, the value of gold and currency reserves (GCR) to the national definition reached its highest historical value of $6.808 billion on December 1, 2010. This was due to the inclusion of funds in Chinese Yuan (CNY), received as part of a swap agreement between the National Bank of Belarus and the People’s Bank of China.

As reported by the National Bank, the preservation of GCR positive dynamics can ensure the stability of the ruble within the monetary and credit policy of Belarus for 2010.

National Bank jointly with the Government intends to continue  increasing foreign reserves. Their volume should increase by at least $0.5 billion in 2010 and above $1.2 billion in 2011. Foreign investments and improvement of the national economy efficiency and competitiveness are considered the main sources of reserve assets’ increase.

According to Telegraf, GCR fell by $157 million (2.6%) in October. As for the data of the National Bank of Belarus, the volume of gold and currency reserves totaled $5.8 billion on November 1, 2010.

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