The currency of the main partner countries is important for the Belarusian economy. This was stated by Prime Minister of Belarus Roman Golovchenko.
According to him, the situation with the growth of the dollar against the Belarusian ruble does not cause much concern.
"I don't see any tension in this issue. In my opinion, over the years, with our economic policy, which we are pursuing, we have instilled, first of all, confidence in the Belarusian ruble in people. This is evidenced by the steady growth of our deposits in the banking system — both individuals and legal entities, which has not been the case for a very long time. At the same time, deposits in foreign currency are decreasing, that is, people are transferring deposits in foreign currency to deposits in our national currency. Secondly, of course, the dynamics in the market of buying and selling currencies is very important. Both last year and this year, the population and business are net sellers of currency. That is, it helps to increase the gold and foreign exchange reserves of the state, which today are at a safe level, exceed $ 8 billion in equivalent," he said.
The Prime Minister of Belarus called the situation with the jumps in the value of the dollar a temporary phenomenon.
"This is due to many factors — both internal and external. Against the background of the announcement of the results of the presidential elections in the United States, the President—elect declared the slogan once again - make America great, and such messages affect the international financial market. Everyone expects the dollar to be stronger. Accordingly, currency futures already take this amendment into account. They may well win back later. This, I would say, is a more emotional decision, which also affects investors. Taking into account the fact that our exchange rate is floating, we have market pricing, so the Belarusian ruble automatically devalued a little against the US dollar. But I will emphasize that all the time before, the Belarusian ruble was strengthening against the US currency," Golovchenko said.
He also said that there are other important foreign currencies for our economy.
"For us, the most important thing now is still the Russian ruble and the Chinese yuan. This is the currency of our main trading partners and those friendly countries that pay with us in this currency," Golovchenko summed up.
Belarus has been under tough Western sanctions since 2020. The authorities of the republic declare that the country's economy has adapted to the negative consequences of the actions of unfriendly countries, including by increasing trade with Russia. At the same time, there has been a significant increase in the exchange rate of foreign currencies against the Belarusian ruble in the republic in recent weeks.