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20 June 2024, 10:41

National Bank chief: Growing confidence in Belarusian ruble as store of value

MINSK, 20 June (BelTA) – Confidence in the Belarusian ruble as a store of value is strengthening, Chairman of the Board of the National Bank Pavel Kallaur said at a joint meeting of the House of Representatives and the Council of the Republic on 20 June, BelTA has learned.

According to him, the moderate intensity of inflation processes, as well as the stability of the exchange rate, contributed to the increased confidence in the national currency as a store of value.

“Over the five months of 2024, fixed-term ruble deposits of households rose by 12.2%. At the same time, households are still interested in long-term savings in Belarusian rubles. As of 1 June, long-term deposits accounted for 60%. This trend boosts sustainability of banks, their resource potential and gives them more tools to bankroll the economy,” the chairman of the board of the National Bank noted.
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