OREANDA-NEWS. December 10, 2015. The volume of gold and foreign exchange reserves of the Republic of Belarus on the IMF’s SDDS definition decreased by USD82.7 million as at the end of November, 2015 and amounted, according to the preliminary data, to USD4, 584.0 million in the equivalent as of December 1, 2015. The volume of gold and foreign exchange reserves on the national definition decreased by USD248.3 million, totaling USD4, 911.6 million in the equivalent as of December 1, 2015.

The decrease in the level of the gold and foreign exchange reserves was due to the significant decrease in the price for gold in the international market of the precious metals, as well as repayment by the Government and National Bank of the Republic of Belarus of their external and internal foreign exchange obligations in full.

Revenues from export duties on oil products, as well as revenues from the sale by the National Bank of the Republic of Belarus of the bonds nominated in foreign exchange were conducive to maintaining the level of gold and foreign exchange reserves.