The market value of Lithuanian gold reserves, despite the weakening of the US dollar against the euro, increased by 9 percent last year. up to 355 million euros, says the representative of the Bank of Lithuania (LB).
“Since the price of gold has risen, the gold reserves managed by the Bank of Lithuania have also become more expensive,” Marius Ignotas, director of the LB Market Operations Department, said on Wednesday at the Budget and Finance Committee of the Seimas.
“Only due to the change in the price of gold, the value of this reserve increased and reached 355 million last year. euros,” he added.
According to M. Ignotos, the country’s gold reserves rose by 9% last year, by 7% the year before, and by 4% in 2021.
From the so-called “interest” of gold, LB generated a positive return of 2.26 million last year. euros. Last year it reached 0.22 million. euros, and in 2021 – the only time since 2008 – it was negative – 0.1 million. euros. About 2 million EUR return was achieved in 2016, while in other periods it did not reach 1 million. euros.
LB’s financial assets reached 5.9 billion last year. euros and earned 231 million return of euros. According to M. Ignotos, the gold portfolio earned the highest return – 11.1 percent.
Lithuania has 5.8 tons of gold.
