Ministry of Economy: 3,800-4,100 rubles per dollar is a fair rate

Syarhei Rumas, the Belarusian Deputy Prime Minister, thinks a rate of 3,800-4,100 Belarusian rubles per dollar is a fair exchange rate, while one dollar costs about 5,000 rubles on the interbank market.

“The second trading session on the stock exchange starts on Tuesday or Wednesday. Once we have a balanced exchange rate, we will work according to our plan of unifying the exchange rate. In my opinion, this exchange rate is in the range of 3,800-4,100 per dollar. Today that fits in with the state of our economy," Rumas told Reuters.

The Belarusian interbank market revived after exchange rate restrictions for banks and companies had been lifted. The rate of the Belarusian ruble against the dollar was 4,800-5,300 on the market with the official exchange rate of 3.074 rubles per dollar.

The situation didn’t change on Thursday except for the fact that dollar costs about 5,000 rubles on the interbank market.

Rumas said the interbank rate was “unrealistic”.

Belarus allowed the ruble to float freely between banks on Tuesday, but exchange rate restrictions were preserved on other markets, including foreign cash market.