BELARUS NEWS AND ANALYSIS

DATE:

11/10/2007

NBB Sells US$585,000 Worth Of Diamonds

The National Bank of Belarus (NBB) sold approximately US$585,000 worth of diamonds between December 2005 and October 2007. Mikhail Zhuravovich, spokesperson for the NBB told local news that US$48,000 was sold by the bank in the month of September alone.

Since the bank began selling diamonds in December 2005 a total of 1,917 stones have been purchased with a combined weight of 335.46 carats. NBB's precious stone reserves have reportedly increased in 2006 by approximately US$9.4 million (?6.7 million) to US$43.5 million (?30.9 million) and a total of 38,800 carats.

The stones are purchased from NBB's main office in Minsk as well as its main offices in Brest, Homyel, Hrodna, Vitsyebsk and Mahilyow.

Source:

http://www.diamondintelligence.com/magazine/magazine.asp?id=5562