Republic

Belarusian ruble gains against euro, Russian ruble in August

In January-August 2007 the official exchange rate of the Belarusian ruble against the US dollar shrank by 0.3% to make up Br2,147 for $1 as of September 1, 2007, representatives of the National Bank of Belarus told BelTA. The exchange rate went down by 0.09% in August alone. Meanwhile, the exchange rate of the Belarusian ruble against the Russian ruble went down by 3.3% to reach Br83.78 for RUR1. In August the Belarusian ruble gained 0.2% against the Russian one. Over the last eight months the official exchange rate of the Belarusian ruble against the euro fell by 4% to make up Br2,932.37 for ?1 as of September 1. In August the Belarusian ruble gained 0.3%. BelTA has been told, in January-August external economic factors as well as the US dollar temporarily gaining against the euro on foreign markets substantially influenced the changes of the official exchange rate of the Belarusian ruble against foreign currencies. In the future the monetary management policy of the National Bank of Belarus will continue aiming to secure the stability of the Belarusian ruble’s exchange rate with a view to further decreasing the intensity of inflation processes. In line with the Major Monetary Management Guidelines of the Republic of Belarus and taking into account the foreign exchange market situation and the foreign trade status, this year the exchange rate of the Belarusian ruble against the US dollar is expected to vary plus/minus 2.5%. Considering the expected mutual changes of the exchange rate of the Russian ruble and the US dollar the amplitude of changes of the Belarusian ruble’s nominal exchange rate against the Russian ruble will make plus/minus 4%. As a result, the official exchange rate of the Belarusian ruble against the US dollar is expected to reach Br2,090-2,200 for $1, against the Russian ruble — Br77.7-84.3 for RUR1. Considering the forecast factors that influence the competitiveness of the national economy without the exchange rate, the real effective exchange rate is expected to swell by 4% at most in comparison with 2006.