/ / News

Reserves sufficient for stable Belarusian ruble

MINSK, 16 January (BelTA) – Belarus has enough gold and foreign currency reserves to maintain the stability of the national currency, President of the Republic of Belarus Alexander Lukashenko said as he met with chief of the National Bank of Belarus Nadezhda Yermakova on 16 January, BelTA learnt from the press service of the Belarusian head of state.

“For the first time in history, we have enough gold and foreign currency reserves to sustain any exchange rate of the national currency. However, the rate should be justified, as we have agreed, and it should be free,” Alexander Lukashenko said.

Nadezhda Yermakova reported that the overall situation on the currency exchange and in the banking system is not bad. As of 1 January 2012, the gold and foreign currency reserves were estimated at $7.9 billion according to international standards. The situation on the cash market is also stable. People sell 5-7 million of foreign currency in U.S. dollar terms more than they buy.