Tuesday May 24, 2022

Belarus has given up its efforts to save the currency, with a high devaluation

Belarus has given up its efforts to save the currency and has all been restricted in moving its course. The details are not clear yet, but the government and the central bank have stated in a joint statement that as soon as the new exchange rate is set, the commercial banks will be able to buy and sell me at will.

Analysts say Reuters the Belarusian ruble will devalue by 20 and 30 percent once they fall restrained.

“The government and the central bank will ensure that restrictions on the exchange rate of the (Belarusian) ruble for transactions between banks and companies will be removed,” the company quoted first, citing Reuters. The country has so far tried to arm the devaluation of me, the poor state of the economy is no different option.

And so far, Belarusian banks have been able to set the exchange rate of the ruble up to ten percent of the once-specified fluctuation rate. The course on the street was much weak.

Belarus is in a deep economic crisis and has relied on the name of Russia. However, this refused to provide Minsk, incl. The central bank tried to arm the exchange rate, but since the end of the year it has consumed about a quarter of foreign exchange reserves.

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