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National Bank of Belarus changes basket of currencies November 1

The National Bank of Belarus changed the structure of the basket of currencies on November 1. Until now, when determining the exchange rate of the Belarusian ruble, the bank took into account the trading volume in dollars, euros and Russian rubles. The regulator has decided to increase the share of the Russian ruble in the basket of currencies to 50% from 40%.

The dollar will retain one-third in the basket, while the euro's influence on the exchange rate will be reduced to 20%.

This decision was made as part of a strategy to bring closer the share of the Russian ruble in the currency basket with the share of Russia in Belarus' foreign trade turnover, which is exactly about 50%.

Vadim Iosub, senior analyst of the company Alpari:
The change in the formula for calculating the currency basket, will not affect particular exchange rates. Don't expect any changes in risks, they have not changed at all. The basket of currencies has become more consistent with its purpose. World practice is that the share of a currency in the basket depends on the trade turnover with a particular country.

National Bank of Belarus changes basket of currencies November 1