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Belarus' gold and foreign currency reserves up by $43m in May 2016

The Belarus National Bank has published the latest information on the state of international reserves. The total amount of gold and foreign currency reserves on June 1 exceeded $4.27 billion.

The gold and foreign currency reserves of Belarus in May rose by more than $43 million. The National Bank has noted the positive statistics on a monthly basis since February. This result was made possible primarily thanks to the export duties on oil, the issue by the Finance Ministry of foreign currency bonds and the purchase of foreign currency by the National Bank at the Currency and Stock Exchange.

Vadim Iosub, senior analyst of the company Alpari:
The growth of international reserves reduces negative expectations about the future, helps to reduce foreign currency exchange rates and makes our lives richer. If not, then at least life becomes calmer.

Belarus' gold and foreign currency reserves up by $43m in May 2016