National Bank tries to slow down devaluation of rouble

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April 22, 2016 19:05

Depending on various scenarios, the National Bank estimates that the value of the currency basket may grow by 3-7% by the end of the year in comparison with January 9th, 2015.  As of January 26th, the value of the currency basket is growing at roughly 7%. It is unlikely that the National Bank will be able to keep the financial market at this level as Belarusian producers need to improve their competitivity on the Russian market. At the same time, the National Bank-s anti-devaluation measures will lead to currency shortages in exchange offices and higher interest rates for foreign currency deposits, as the National Bank tries to attract household currency savings. Only new loans from Russia or refinancing foreign debts could help improve the economic situation.

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