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Belarus' National Bank calls on commercial banks to adhere to official exchange rate

The recent slump in the exchange rate of the Belarusian ruble against the major currencies has caused disturbances to businesses and ordinary Belarusians. Partially the fall is due to the external conditions that affect the rate of the Belarusian ruble (BYR).

The National Bank of Belarus has encouraged commercial banks to adhere to the official exchange rate of the Belarusian currency. The essence of the recommendations is that the exchange rate in exchange points does not deviate from the official rate more than 2%.

Alexander Sabodin, financial analyst:
On the one hand, the task of the National Bank is to prevent the shortage of currency in currency exchange points, in order not to create conditions for the black market of foreign currency. On the other hand, the regulator should monitor the stability of the exchange rate and smoothen sharp fluctuations, including those due to speculations of other market participants. First of all, in this case, we are talking about commercial banks.

Alexander Sabodin, financial analyst