"It Won't Be Long Now"

What will happen to the dollar at the end of July?

The dollar exchange rate on the Belarusian Currency and Stock Exchange will continue to decline. This is the forecast of financial analyst Mikhail Grachev, according to the news agency "Minsk-novosti".

“There is a fairly high volume of dollar buying and selling on the trading floor, which suggests that the trend [of the dollar’s decline—Ed.] will continue. It is impossible to say definitively how low the U.S. currency will fall. Generally speaking, a very weak dollar is not particularly good for the Belarusian budget.”

In this situation, the analyst “cautiously suggested that the decline in the dollar’s exchange rate might halt at the 2.75–2.78 ruble level.”

“But it’s clear that by the end of the month, provided most of the factors listed above persist, the current situation will continue. However, after the Bank of Russia’s meeting in July, market behavior may change. We won’t have to wait long,” the analyst predicts.

On July 24, the Central Bank of Russia intends to review its key rate—the equivalent of our refinancing rate.

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