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)
November 28, 2015
Hard to repair damage caused to Russian-Turkish relations - Kremlin spokesman
Russian pilots in Syria guaranteed against replay of plane incident, air defense system installed - Kremlin
Hotline between Russian, Turkish military deactivated, no flight coordination agreement exists - Kremlin
Kremlin reiterates that Russian plane did not cross Turkish border, calls Turkish maps showing its route "animation"
Turkish President Erdogan's predictability hard to determine - Kremlin spokesman
Kremlin: Erdogan's statement on viewing interception of Turkish planes over Syria as aggression is absurd
KREMLIN SPOKESMAN PESKOV: INFORMATION EXCHANGE CHANNEL BETWEEN RUSSIAN, U.S. MILITARY WORKING
KREMLIN SPOKESMAN PESKOV ON CONTACTS WITH U.S. AFTER RUSSIAN PLANE'S DOWNING IN SYRIA: IT IS IMPORTANT FOR EVERYONE TO EXERT INFLUENCE ON ANKARA TO GUARANTEE PREDICTABILITY OF ITS STEPS
HOLLANDE'S STATEMENT IN MOSCOW ON NEED TO SET UP PROVISIONAL GOVT IN SYRIA REFLECTS FRANCE'S POSITION - KREMLIN SPOKESMAN PESKOV
RUSSIA OPEN TO ANY INTERACTION WITH COALITION LED BY U.S. IN SYRIA, DOES NOT SEE RECIPROCAL WILLINGNESS SO FAR - KREMLIN SPOKESMAN PESKOV
PUTIN-HOLLANDE MEETING IN MOSCOW WAS MOST PROMISING; RUSSIAN, FRENCH MILITARY ELABORATING ON ALGORITHM OF COMMON ACTIONS - KREMLIN SPOKESMAN PESKOV
KREMLIN SPOKESMAN PESKOV: PUTIN EXTREMELY MOBILIZED FOLLOWING TURKEY'S ATTACK ON RUSSIAN PLANE; RUSSIA FACING UNPRECEDENTED CHALLENGE
KREMLIN: TERRITORIAL, POLITICAL INTEGRITY OF MIDDLE EASTERN STATES MUST REMAIN INDISPUTABLE CONSTANT
KREMLIN: KURDISH MILITIA FIGHTING ISLAMIC STATE VERY EFFICIENTLY, THIS IS MUCH MORE TANGIBLE FORCE THAN EPHEMERAL FREE SYRIAN ARMY