Central Bank of Russia recommends devaluation

The Central Bank of the Russian Federation considers that the flexibility of currency exchange rate formation should be increased in Belarus.

“We believe that Belarus needs much more flexibility of currency exchange rate policy. Our opinion does not differ from the opinion of the IMF a lot,” said Alexei Ulyukaev, first deputy chairman of the Central Bank of Russia to journalists on Monday, stressing that the entire domestic foreign exchange market is meant, including the cash foreign exchange market, Interfax-Zapad informs.