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Single exchange rate for Belarusian ruble within six weeks

MINSK, 3 October (BelTA) – Within six weeks a new official exchange rate of the Belarusian ruble may be set and the extra session of the Belarusian Currency and Stock Exchange may be shut down. The information was released by Nadezhda Yermakova, Chairwoman of the Board of the National Bank of the Republic of Belarus (NBRB), at the session of the Council of the Republic on 3 October.

The NBRB’s present goal is to bring the exchange rates of the main session and the extra session together, said the official.

In her words, once the demand and supply on the home currency market are balanced, the NBRB will decide on instituting a new official exchange rate and on shutting down the extra session. “We still need a month, maybe 1.5 months in order to see a balanced exchange rate. We may hold off for two more weeks in order to make sure the exchange rate is truly balanced,” said the NBRB head.

Nadezhda Yermakova specified that if the exchange rates used to sell and buy foreign currencies get closer within two weeks, the exchange rate will be the balanced one.

Nadezhda Yermakova also said that they had bought $140 million, €27 million, and RUB27 billion from individuals in the two weeks of free exchange.