National Bank: Belarusian ruble's exchange rate stable

National Bank: Belarusian ruble's exchange rate stable

The National Bank, Belarusbank and Belagroprombank will create a specialized organization Belinkassgrupp to provide cash-collection services.

According to the estimates of the Belarus National Bank, as a result collectors' units will be reduced by 60%, the number of special vehicles will be reduced by almost 40%, and the number of weapons owned by the collection service will be reduced by one third.

Each of the banks will contribute to the statutory fund, which will amount to more than BYN 120 million. At the same time, the National Bank will retain control and management of cash circulation.

Pavel Kallaur, chairman of the National Bank of the Republic of Belarus:
Cash money circulation requires very high costs, money. Everyone loves when there's money in ATMs and when it has a pleasing appearance.

It was proposed to create a specialized cash collection company. The task is that this company will function fully in the market by the end of 2018. The possible market share of this company will be two-thirds of the cash turnover market.

As for the foreign exchange market of Belarus, its condition is stable.

The existing Belarusian ruble's exchange rate is optimal: it satisfies exporters and at the same time contributes to financial and price equilibrium.

Macroeconomic indicators, such as inflation and lending rates, have recently reached the historical minimum. The process of dedollarization is continuing in Belarus.

The share of foreign currency loans declined by 5.5% over the past 12 months. Bank deposits in Belarusian rubles grew in 2017.