28 March 2024, Thursday, 21:48
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Vadzim Yosub: Belarusians Have Gone Through Many Devaluations. Such Traumas Take Heavy Toll

Vadzim Yosub: Belarusians Have Gone Through Many Devaluations. Such Traumas Take Heavy Toll
VADZIM YOSUB

A senior analyst in the Alpari company Vadzim Yosub told what to do in the run-up to the denomination.

Three months are left until denomination of the Belarusian ruble starts. Since April 1 shops started to write prices in old and new money.

Belarusians who have learnt through a series of painful incidents, are afraid of any manipulations with the national currency. Should people treat denomination with caution? Do our citizens have devaluation expectations and how should people act before the replacement of money? These questions of Salidarnasts were answered by the senior analyst in the Alpari company, a financial expert Vadzim Yosub.

– To start with: there is no and cannot be a cause-and-effect link between denomination and devaluation. Denomination is a purely technical process, which does not influence prices or value of the national currency in any way.

At the same time it should be admitted that devaluation expectations undoubtedly exist, they never disappeared. Over the last two decades the Belarusian people have gone through many cases of devaluation. Such psychological traumas take a heavy toll. People fear devaluation, but it does not mean at all that it is highly possible.

What to do before change of money

Nothing special should be done before denomination. One should not try to exchange Belarusian rubles into foreign currency, or to do the opposite.

In reality, a usual behaviour which is optimal for a common man for every occasion: to have savings in different currencies. Naturally, we are speaking about savings, not about pocket money. The optimal tactics is to divide them into rouble, dollar and Euro deposits.

Unfortunately, many our fellow citizens live in a survival mode, and these questions are not relevant for them at all. They receive salary, spend it on housing services and utilities, shopping – and that’s all.

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