MINSK, 25 February (BelTA) – The banking sector of Belarus remains stable, the Information and Public Relations Office of the National Bank of the Republic of Belarus (NBRB) told BelTA.
According to the source, Belarus' banking industry is operating steadily and has sufficient resilience for accomplishing all the tasks facing it amid growing geopolitical tensions and the rising pressure of sanctions on the part of a number of countries.
In anticipation of how the situation may develop the central bank and commercial banks have worked out adequate measures to respond to potential risks.
The steady operation of Belarusian banks is ensured now as well as steady provision of banking services by them. Obligations to depositors and creditors are honored in full.
In turn, the National Bank of the Republic of Belarus continues monitoring the situation and stands ready to step in in order to ensure financial stability.
Preserving the purchasing power of the national currency remains the central bank's key macroeconomic task, the source said. The current interest rates on deposits in Belarusian rubles ensure the safety of savings. The ongoing fluctuations of the Belarusian ruble's exchange rate are caused by dynamics of the exchange rates of the currencies of Belarus' main trade partners. The central bank continues pursuing an exchange rate policy based on a floating exchange rate while cushioning drastic changes of the Belarusian ruble's exchange rate without counteracting global trends.
The National Bank noted that despite the lengthy sanctions rhetoric, the country's balance of payments remains positive. The inflow of foreign currency into Belarus thanks to foreign trade operations is sufficient and allows honoring foreign commitments and satisfying the economy's and the population's demand for foreign currency.
