Wednesday, June 1, 2011

Belarusian ruble collapsed informally

Belarusian tourism operators have established settlement rate of U.S. dollar 5 thousand local rubles. Rate set by the National Bank of Belarus, is now 3,055 rubles per dollar. Thus, the rate exceeds the official tour operator for 63,7%. It is reported by the Belarusian newspaper "Telegraph" on Thursday, April 21. Originally due to fluctuations in the foreign exchange market in Belarus tour operators in the calculations with clients to an official rate of National Bank added 10% to insure themselves against economic risks. Some tour operators generally have refused to carry out calculations in Belarusian rubles, since it could derail the agreement with foreign partners, the newspaper notes. "Telegraph" writes that Belarusian banks, despite the almost complete absence of currency exchange offices, yet not exceed a threshold of 2% recommended by the National Bank against the dollar exchange rate. Recall from the beginning of 2011 in Belarus is developing a currency crisis: fear of devaluation, the citizens are actively buying up dollars, euros and Russian rubles. In the republic there is a shortage of currency. President Alexander Lukashenko has repeatedly said that the devaluation will not happen. However, in the middle of April allowed a free rate fixing National Bank for payments between banks and companies, which many analysts considered the beginning of "soft" devaluation.

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