What is going on in foreign currency market?

Another top-official ensure Belarusians that “there will be no collapse of the Belarusian rouble”.

This time the devaluation mantra came from the Prime Minister of Belarus Mikhail Miasnikovich.

“There will be no collapse of the Belarusian rouble”, - the Prime Minister of Belarus claimed today in Kasciukovichy at a meeting with the chairmen of district executive committees of Mahilou region, BelTA reports.

According to the head of the government, there are no reasons for agiotage in the foreign currency market. The country’s economy works stably, there are enough foreign currency reserves. There is no sense to line up to currency exchange offices. “We will be able to satisfy the population’s demand for foreign currency with no problem”, - the Prime Minister stated.

In the past month the devaluation mantra was already repeated by the head of the National Bank Nadzeja Jermakova and the vice-Prime Minister Piotr Prakapovich.

Apparently, the operational economic information, received by the country’s leadership, makes them react to changes. Thus, the National Bank refused from the planned decrease of the prime interest rate and is taking rapid measures for toughening the liquidity conditions. Probably, this is the reaction on Belarusians’ withdrawing money from banks and converting them into cash dollars and euros. The reason for the panic is the attempt of gradual devaluation of the Belarusian rouble in the past few weeks. In the response to that Belarusians traditionally lined up to currency exchange offices and started buying out foreign currency.