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Kalaur: I don't like word “devaluation”

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Kalaur: I don't like word “devaluation”
Pavel Kalaur

The chief of the National Bank of Belarus promises to use market means to help the recovery of the Belarusian ruble.

Pavel Kalaur said it at a press conference on May 5, Komsomolskaya Pravda v Belarusi writes.

“I don't like the word 'devaluation'. You may notice that I never use it,” he said. “It is a very unpleasant instrument. I personally prefer a policy of a more flexible exchange rate that allows reacting to different external shocks by means of supply and demand. In my opinion, it is the most suitable policy in our conditions. Of course, if you asked me about the most appropriate policy from the point of view of business planning and predictability of the exchange rate, I would say it a policy of a fixed exchange rate. Unfortunately, the fixed exchange rate is not for our economy.”

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