Devaluation scheduled for middle of autumn?

The National Bank is discussing a possibility of 20%-30% devaluation of the Belarusian ruble.

Belorusski Partizan website has learnt it from a source in the National Bank.

The ruble devaluation is planned for the middle of autumn, the source says. The ruble is expected to drop in late September – early October. The National Bank discusses a possibility of 20%-30% devaluation, but fears panic. Autumn is the favourite time for the Belarusian authorities to carry out experiments, the website reports.

A final decision on weakening the national currency will be taken after receiving another tranche of the EurAsEC stabilisation loan. This money will be spent on the devaluation and preventing the Belarusian ruble from a further fall of the ruble amid a possible panic in the market.

We remind that several representatives of the Ministry of Economy made statements recently in favour of gradual devaluation.