Belarusian gold, FX reserves fall 1.6% in Nov, rise 8% in 11M to $8.79 bln

MINSK. Dec 6 (Interfax) - Belarusian gold and foreign-exchange reserves grew 8.2% or $667.5 million in January-November 2024 to $8.795 billion from $8.127 billion, the National Bank of Belarus said on its website.

The reserves grew fell 1.6% or $139 million in November, their first drop in the second half of the year, after rising 0.9% or $75.6 million in October and 1.9% or $161.2 million in September.

The reserves grew in 11M 2024 as monetary gold rose $1.01 billion in value while FX reserves fell $313.5 million, however the gold reserves fell $150.5 million in November.

Gold in the reserves fell 3.2% in November and grew 28.3% in 11M to $4.595 billion, FX reserves rose 1.2% in November and fell 10% in 11M to $2.846 billion, and IMF Special Drawing Rights fell 2.6% in 11M to $1.354 billion.

The reserves fell 2.5% in 2023 and 5.9% in 2022 after rising 12.8% in 2021 and falling 20.5% in 2020.

The National Bank's monetary policy guidelines target gold and foreign exchange reserves of at least $6 billion at end-2024.