The government and the National Bank are going to legalize the shadow exchange rate

The government and the National Bank have agreed to legalize the "shadow" exchange rate of the Belarusian ruble, which has evolved into a shortage of foreign currency. The market rate will be formed on the alternative trading session of the Belarusian Currency and Stock Exchange.

"The government and the National Bank on Friday approved a program of action to overcome the currency crisis, which, inter alia, provides for an alternative market exchange rate Belarusian ruble"- Told Interfax party meeting on the social and economic development, which is held on Friday, Alexander Lukashenko.

"The exchange will be introduced the second trading session, where the exchange rate will be set at market conditions, based on the supply and demand of legal entities," — said the source.

In this case, the current official exchange rate determination mechanism will continue. That is, the official exchange rate will be determined in the main auction, based on the proposal within the framework of the mandatory sale of foreign currency earnings. Here, the National Bank will retain a restrictive mechanism to meet the demand for critical imports (gas, medicine) and the repayment of foreign currency loans.

"Information Administration of the National Bank does not confirm or deny this information. Such information, we do not" — said the head of the agency, a spokesman for the National Bank of Belarus Anatoly Drozdov.

The former head of the National Bank Stanislav Bogdanovich said: "I am an absolute opponent of plurality or dvaistastsi exchange rates. exchange rate must be one, it should be determined by supply and demand. "

"Who needs a comprehensive program of recovery, not just the devaluation and the reduction of funding government programs," — said Bogdanovich.

Belarus has formed a "shadow" market of cash currency, the exchange rate at which higher than the official 50%. On the "shadow" market of the Belarusian ruble depreciating rapidly — in the beginning last week it exceeded the official rate of 30%.

Official exchange rate Belarusian ruble close to the border of Alexander Lukashenko approved the corridor — no more than 8% against the basket of currencies (U.S. dollar, Euro, Russian ruble).

As of April 18, the Belarusian ruble to a basket of currencies fell by 7.57%, Interfax reported.



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