Updated at 11:30,08-12-2016

Belarusians have withdrawn 1.2 billion dollars from banks during the crisis

Belarusians, scared by the ruble's devaluation, during the currency crisis have withdrawn from deposits in commercial banks about $ 1.2 billion.
Until March 2011 individual persons have actively increased the amount of foreign currency deposits in commercial banks of the country. However, the strange actions of the government and the National Bank of Belarus made ​​by the end of February in the foreign exchange market of the country have resulted in increased public concern about the safety of deposits in commercial banks.


When the National Bank stopped selling foreign currency on the stock exchange, and it has become impossible to buy it in exchange offices, people began to withdraw foreign currency deposits. From March to June individuals persons have taken from the banks about $ 1.2 billion - almost a quarter of their savings, run up to 4.694,7 million dollars on March 1. The amount of foreign currency deposits of individuals dropped to the level of early 2010.

The population was deprived of interest on these deposits - about $ 10 million per month, but for many people the fear of losing their savings has proved to be stronger than the desire to make a profit.

In July the situation in the deposit market changed for the better and the amount of foreign currency deposits grew by $ 61.8 million, run up to $ 3.547,70 million on August 1. Considering high rates on foreign currency deposits, it is rather a slight increase, indicating the preservation of anxious expectations of society.