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Economy
30 November 2022, 16:53

PM: Situation in Belarus' foreign exchange and financial markets is stable

MINSK, 30 November (BelTA) – The situation in the foreign exchange and financial markets is stable, Belarusian Prime Minister Roman Golovchenko said during a meeting with deputies of the House of Representatives and members of the Council of the Republic in the Oval Hall, BelTA has learned.

The government, together with the National Bank, has carried out work to stabilize the situation in the domestic foreign exchange market.

"At the moment, the situation in the foreign exchange and financial markets is completely stable. There is no rush demand for foreign currency. Since the beginning of the year, the population has sold $145 million on a net basis," Roman Golovchenko said.

According to him, fixed-term retail deposits in Belarusian rubles are on the rise. Their increase amounted to more than Br1.1 billion, or 22%.

"Since the beginning of the year, the Belarusian ruble has strengthened against the euro by 13.3%, against the U.S. dollar - by 5%. The Belarusian ruble is an attractive currency for savings," the prime minister added.

The head of government noted that the currency obligations of the state have been fulfilled in full. On 1 November the volume of gold and foreign exchange reserves was $7.6 billion while the target was at least $7 billion.

"Thanks to the decisions taken, the inflation has been slowing down for the third month in a row in annual terms. Deflation at the level of 1% was registered in October, for the first time since 1991," Roman Golovchenko said.

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