24 July 2019, Wednesday, 10:52
We are in the same boat

Population Sold Currency For $ 1 Billion In First Half Of Year


The population of Belarus has been a seller of currency for twenty-nine month.

Belarusians’ interest in currency operations fell in June. According to the National Bank, in a month, the net sale of cash currency fell by 26.1% to 173.9 million dollars, tut.by writes.

At the same time, both the sale and purchase of cash currency declined. Citizens sold by 9.2% less currency than in May – 644.8 million dollars, and bought by 0.9% less, 471.3 million dollars.

For six months of this year, Belarusians have sold 1,037 billion dollars, for the whole last year – $ 2.2 billion, in 2016, the net sales amounted to 2.4 billion dollars.

In the first half of the year, business entities were net buyers of foreign currency (the purchase volume exceeded sales by $ 478.6 million).

During 2017, there was a gradual acceleration in the growth of real wages, which, according to experts, exerted pressure on the currency market and could put pressure on inflationary processes. We remind that the average salary rose sharply in December last year and amounted to 995.3 rubles. However, at the beginning of the year, there was an expected pullback, the average salary fell to 859 rubles in January, it increased up to 943.9 rubles by May.

Citizens have been selling currency for three years already, including their accumulated deposits, trying to keep consumption at the same level, while their incomes are decreasing. Experts predict that the trend will continue this year.