OREANDA-NEWS. September 25, 2012. Belarus’ international reserves went up 3.1% in January-August 2012 year on year to USD 8.159 billion as of September 1, 2012 by the International Monetary Fund’s Special Data Dissemination Standards, according to National Bank of Belarus (NBB).

In August alone, Belarus’ international reserve assets reduced 1.1% on the year by USD 89 million.

As of September 1, 2012 foreign currency reserve assets amounted to USD 3.461 billion, down 22.9% since January 1, 2012, the amount of monetary gold reached the equivalent of USD 2.265 billion, up 18.9%, and other assets were at USD 1.854 million, up 100%.

Special drawing rights were at USD 579.3 million as of September 1, 2012, up 1.2% on the year. Belarus’ IMF reserve position is at USD 0 million, showing no change.

In the meantime, Belarus’ gold and foreign currency reserves grew 6.5% year-on-year in January-August 2012 to reach USD 8.776 as of September 1, 2012.

The National Bank of Belarus attributes the decline in the country’s gold and foreign currency reserves to finalizing a swap deal with the People’s Bank of China. Furthermore, the government and the National Bank had to settle their domestic and external liabilities in foreign currency, which also contributed to the decline in reserves. At the same time, the decline was partially offset by the growth in prices of precious metals on foreign markets, the NBB said in a release.

In 2011, Belarus’ reserves went up by USD 2.885 billion, or up 57.4% on the year, to USD 7.916 billion.