MINSK, 27 March (BelTA) - The exchange rate of the Belarusian ruble is stable, and no serious shocks are expected on the currency market, Chairman of the Board of the National Bank of Belarus Roman Golovchenko told the media on 27 March, BelTA has learned.
“The processes of de-dollarization are moving quite quickly. We are seeing a very confident and rapid growth in deposits, both from individuals and legal entities, in Belarusian rubles. All of this, accordingly, probably distracts some attention from fixation on the dollar exchange rate. Perhaps it still primarily remains for those who hold a certain portion of their savings in cash dollars,” the head of the National Bank believes.
Overall, fluctuations in the dollar exchange rate are objective, he emphasized. “I have, again, said repeatedly that this is linked to a multitude of factors. The National Bank has the tools to counteract sharp fluctuations in the foreign currency exchange rate. We do not interfere in the exchange rate formation process; it occurs on a market basis. In the event of sharp spikes, we have the instruments to counteract these processes. But for now, we are not deploying them, because no serious shocks are anticipated on the currency market. Despite all the tensions that exist in the world, the national currency exchange rate is stable. Moreover, the steps we have taken and the objectives we have set for the banking system to further increase the savings activity of the population and to extend the terms of deposits have received a good response. All banks, fulfilling the set task, have created attractive deposit products for terms exceeding three years. And so far, we are moving according to the schedule we set for ourselves,” Roman Golovchenko concluded.
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