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Dollar costs Br18,500 on black market

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Dollar costs Br18,500 on black market

The fall of the Belarusian ruble, which has been continuing since the end of last year, has failed to increase the amount of foreign cash in exchange offices.

Foreign currency speculators appeared in Belarus again. They sell dollars for 18,000-18,500 Belarusian rubles on the black market and buy for 16,000 rubles a dollar, Radio Svaboda reports.

A speculator says on conditions on anonymity that the price depends on two factors – “amount and urgency”:

“If a person urgently needs a large amount of foreign currency, a dollar can cost 18,500 Belarusian rubles. People fear they will lose their money. Many buy dollars at Br18,000-18,500 just to get rid of rubles. There's a trend since the beginning of the year: individuals and small firms withdraw big sums from their ruble-denominated deposits and convert them into foreign currency. Some need foreign currency for a business trip, some for holidays, some need to pay for education. Belarusian rubles are useless when children study, for example, in Russia. Supply depends on demand, so my exchange rate is 18,500 rubles a dollar, not an official rate of 15,000 rubles a dollar.”

The official exchange rate is 15,010 Belarusian rubles a dollar.

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