MINSK, 31 December (BelTA) – Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Roman Golovchenko has identified the factors that helped make the Belarusian ruble stronger in 2025, BelTA has learned.
According to Roman Golovchenko, the Belarusian ruble has become much stronger this year due to many factors.
“First of all, we’ve often said that our domestic forex market had a large supply of foreign currency, which the National Bank naturally bought and transferred to the reserves. The U.S. dollar is getting rejected. And it is happening not due to some political or ideological considerations but more due to basic laws of economics. Let’s say, U.S. dollars are no longer used to pay for import to countries like the Russian Federation, the Republic of Belarus, and a number of other ones. Other currencies are in use, including national currencies. The demand for U.S. dollars has decreased. Since the exchange rate is governed by the market in Belarus, then respectively the need for U.S. dollars has decreased,” the NBRB head explained.
The second factor is the overall devaluation of the U.S. dollar against the basket of the world’s six strong currencies. “Well, the third factor was the rather strong improvement of the exchange rate of the Russian ruble. Because Russia accounts for 60% of our trade and we trade using Russian rubles. Its share makes up half. This is why automatically our Belarusian ruble became stronger against the U.S. dollar in Russia’s wake,” Roman Golovchenko pointed out.
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