The smaller the currency, the exchange rate more

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In Belarus returns a system whereby foreign exchange in different situations have different costs. National Bank recommended the purchase and sale of foreign currency between banks and business entities at the rate will not deviate from the official by more than 10%.

Earlier this corridor could not exceed 2%. The news is not for sale through currency exchange offices, but there is no guarantee that mnozhnasts rates again becomes a reality.

Such a move in the National Bank explained that the banks will have more opportunities to meet the demand of Belarusian enterprises in the foreign exchange and increase interest of exporters in the implementation of its foreign currency revenues. Meanwhile, experts say vymushanasts such a decision, because on artificially constrain the processes that are gaining momentum, it is impossible. Economist says the IPM Research Center Dmitry Kruk:

The central bank this step virtually admitted the problem in the forex market, there are …

"It's actually a recognition of the situation that has developed today in Belarus. Somehow to revive non-cash market, it is first of all and done. Therefore, the decision is largely involuntary, and the central bank this step virtually admitted that the problems in the foreign exchange market there. And in order to somehow stimulate the sale of foreign currency, he was forced to extend the previous corridor. "

Some analysts were quick to call the return of the measures of the National Bank in the 90s, when in parallel with the official, but in no way supported by a real exchange rate, there was a "black" the rate at which carried virtually all financial transactions. But will it be correct to compare the current situation with that which took place more than a decade ago? This bill speaks economist Pavel Daneyko:

"It's a completely different story, a different situation, a different level of professionalism, experience another at all levels. What is there general can be said?".

However, Mr. Daneiko convinced that attempts in any way to keep the current rate of the Belarusian ruble against the major currencies have few prospects. One of the ways out — the devaluation of the ruble

The situation is constrained by, so to speak, sterilize the ruble mass and, consequently, a reduction in import demand in the consumer sector and in the sector of real …

"I am a longtime fan of the devaluation, it seems to me that in such a case, it would be much more efficient economy. But we have this other point of view. Both the IMF, by the way, the last time was held just a different point of view. Regarding our specific case , I do not see any undercurrents.'s just that we have a very strong devaluation pressure. situation constrained by, so to speak, sterilization ruble supply and, consequently, to reduce the demand for imports in the consumer sector and the real sector. But it seems to me, anyway these measures are not enough to balance the currency of the country. "

Multiple exchange rates were established in Belarus before today's recommendation by the National Bank. Since the introduction of the ban on the purchase of foreign currency at the exchange rate of the dollar on the black market jumped to 3,800 rubles, and in some cases exceeded, and 4,000 rubles to the dollar, which is much more than legalized now OTC exchange rate of 3,300 rubles. From April 1 on the exchange at the official rate can be buy currency only for a specific purpose, so is left to wonder: will be set by the National Bank corridor enough to the country again, there were several parallel courses?

Events in the financial markets affect not only the economic entities, but also to ordinary citizens. Many translate ruble savings into the currency, and some did not trust the banks, trying to pick up their foreign currency deposits. But to realize something, and the other is difficult: the demand for dollars and the euro continues to exceed the capacity of banks, and the return of the deposits stretched indefinitely. Can the hype cause massive raids on the banking institutions? Interested in a financial analyst Ekaterina Smirnova:

To have a normal explanation of the situation of the banks, the situation every day would not only ignited more and more …

"In fact, there are very many good" but. "To talk about some massive things you need to understand how to behave, all market participants. Ie — simulate the situation. Example, even the man, that was not going to use their foreign currency deposits in the coming year, not having the necessary information and the presence of a lot of rumors that something is brewing, of course, may decide to take it and run your contribution. But that was a normal clear information, the normal explanation of the situation of the actual bank, the National Bank, I am convinced that this situation every day would not only ignited more and more. "

In comments on the site "Liberty" until yesterday the material on the situation of foreign currency deposits of our readers wrote that already encountered some difficulties. So, to pick up the foreign currency deposits, resident Lida asked to apply i come in 5 days. "I look forward to the time to pick up your a sinking ship," — he wrote. And Victor from Baranovichy said a statement on the issue only after the funds will be April 3, and will pay the money "after its favorable consideration."

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