December 07, 2011 16:00
National Bank of Belarus forecasts 9150/$1 exchange rate in 2012
MINSK. Dec 7 (Interfax) - The National Bank of Belarus predicts an average annual exchange rate in 2012 of 9150 Belarusian rubles/$1, Nadezhda Yermakova, the bank's chairman, said in Minsk Wednesday.
"In our calculations we are working with a rate of 9150 rubles [to the $1] on average for the year," Yermakova said.
"But based on how the economic development forecast is built, we think the dollar will be weaker and the ruble stronger," she said.
Belarus plans to put a new 200,000 Bel. ruble banknote into circulation in the first quarter of 2012, she said.
"It will not come out at New Year, it will not be ready yet," Yermakova said, adding that "it is a long technical process."
"I think it will come out in the first quarter," she added.
It is difficult to predict what the exchange rate will be at the end of 2012, she said.
The average exchange rate of the Belarusian ruble since the introduction of a unified exchange rate on October 20 to the end of the year is 8600 Bel. rubles/$1. "I think we will keep the trend in December," Yermakova said, noting that the Belarusian ruble was seeing an upward trend.
The Belarusian Economy Ministry predicts that with the basic macro-forecast the exchange rate will be 9700 Bel. rubles/$1 at the end of 2012. The forecast is based on financing for government programs of 7 trillion Bel. rubles, a 1.5% rise in GDP, inflation of no more than 19% and a 0.5% increase in real incomes.
The National Bank of Belarus on October 20 changed its exchange rate policy, shifting from its target fluctuation range (+/-12%) for the dollar, euro and Russian ruble against the Belarusian ruble to a managed floating exchange rate, which will be kept in 2012. The exchange rate management will prevent daily fluctuations from exceeding 5%-10% through interventions.
The official exchange rate on December 7 stood at 8560 Bel. rubles/$1.
(Our editorial staff can be reached at email@example.com)
April 28, 2017
Russia, China speak out for all parties concerned implementing UNSC resolutions on Syria - Russian Foreign Ministry
Ukrainian prosecutor general says confiscation of $1.5 bln from ex-president Yanukovych, his close circle completed
Taliban may join political process in Afghanistan if it renounces violence - EU special rep (Part 2)
Radio-controlled improvised explosive device found on roadside near Khartsyzk -DPR
Kyiv says 2 Ukrainian servicemen killed, 5 injured in Donbas on Friday
Level of anti-drug coordination between gov't bodies should be raised in light of reassignment of FSKN's functions to Interior Ministry - Putin (Part 2)
North Korea unlikely to forsake nuclear weapons as long as it senses direct threat to its security - Gatilov (Part 2)
Trump forgets his promise to mend relations with Russia, turns into a 'simulated Hillary' in 100 days - MP Mironov
Tatneft boosts Q1 RAS earnings 50% to 29 bln rubles (Part 2)
Ruble inches down against dollar, euro as positions closed ahead of long weekend
Russian stocks close April on positive note, state cos lead market
NATO unlikely to use Montenegro's potential as added value but Moscow reserves the right to national security defense measures - Russian Foreign Ministry (Part 2)