Belarusian enterprises ready for currency rate increase

What will happen in future? Should we wait for new records?

Belsat asked an economist and residents in Mahileu.

After a short-term increase, Belarusian ruble rate again decreased. At the Belarus Currency and Stock Exchange the US dollar rose by Br108. Thus, now it costs Br17800. The euro increased by Br129 and now traded at Br19825. Specialists believe that domestic economy has all conditions for further ruble devaluation.

"National currency devaluation to Br20-25 000 per dollar is only welcomed by Belarusian industrial sector and exporters. Many enterprises are ready for it. The other thing is that population will be displeased with it, it will affect the real income", economist Aliaksandr Sinkevich says.

On August 24 the Belarusian ruble has started its rapid decrease. The Belarusian ruble had 5.2% downturn against dollar. On August 25 the dollar hit an all-time high - Br17 836. Two days later Aliaksandr Lukashenka said to Baranavichy employees that the National Bank artificially stem the ruble rate, otherwise, a one-time depreciation is to happen.

"The National Bank would be glad to do it, but such political reasons like the elections make a problem. Therefore, I think, the ruble depreciation is inevitable, but it will happen after the elections", Aliaksandr Sinkevich continued.

Is it worth expecting even worse times for national currency? This question Belsat has taken in the streets of Mahileu.

"In November dollar will cost about Br20 000", city dweller says.

"The worst is yet to come, I think", city dweller shares her opinion.

According to experts, by the end of the year dollar can hit an all-time high few times. Opportunity increases in case of industrial lobby on the National Bank of Belarus, to let domestic enterprises unload warehouses to the Russian market.