Belarus's Gold and Foreign Exchange Reserves Exceed $13 Billion

The country's gold reserves have reached a new all-time high. Gold and foreign exchange reserves exceeded $13 billion for the first time, according to the National Bank as of October 1.

This growth has continued for the tenth consecutive month – in September alone, gold and foreign exchange reserves increased by more than $870 million. This is almost double the amount from the previous month.

Monetary gold continues to account for the majority of the country's gold reserves, amounting to over $6.5 billion. This significant increase over the past month is due to the rise in the price of the precious metal. In the first days of October, gold even surpassed $3,900 per troy ounce.

Foreign currency assets account for the second largest share of reserves. Based on the results of the first eight months, they amount to just over $5 billion.