As a result of trading at an extra session of the Belarusian Currency and Stock Exchange on October 13, the dollar rate has risen by Br300. Thus a new record of Br9.010 has been set. The euro has risen by Br500 to Br12.610 and the Russian ruble - by Br25 to Br301.
Meanwhile, the dollar fell by Br34 to Br5.731 at the basic session, while the euro rose by Br42 to Br7.914. Russian ruble remained virtually unchanged, amounting to Br183.68.
Former head of the National Bank of Belarus Stanislav Bogdankevich said the fx rate would continue to decline significantly without decisive actions of the Belarusian authorities. "If one doesn’t take decisive actions - to stop the growth of the ruble money supply, to calm down the market fx intervention - we will be able to see either Br9, or Br10 and Br12 per dollar this year," he predicts.
Meanwhile, economist Sergei Chaly attributes another sharp hype of fx rates to psychological, not economic, factors. "The hype will go downward sooner or later. Maybe, not to the point where it starts, but quite significantly," reported the expert to Telegraf.
