Updated at 23:19,25-10-2016

Foreign Banks' Dollar-to-Ruble Rate 5.4 Times Exceeds Belarus' National Bank Rate

06-09-2011, 15:59
Foreign Banks' Dollar-to-Ruble Rate 5.4 Times Exceeds Belarus' National Bank Rate

The dollar against the Belarusian ruble has substantially grown in Belarus' neighboring countries for the past two months. Foreign banks have set the selling rate dollar, significantly exceeding the rate of the National Bank of Belarus. For example, Moscow "Investment union" is ready to sell dollar for Br27.848 (5.4 times higher than the official fx rate), Esidbank - for Br14.773 (almost 3 times higher).

In the Lithuanian banks, dollar fx rates are close to the quotations of the Belarusian "black" market fx rates when buying goods on the market and online stores. Thus, September 5, dollars could be sold for Br8.510, and bought for Br9.400 in the exchange office of the bank Citadel at the railway station in Vilnius, while euros - Br12.200 and Br13.300, respectively. Cross-rate of Medical Bank was Br8.432 - Br9.404 per dollar and Br12.031 - Br13.308 per euro, BelaPAN .

The Latvian banks' purchase dollar rate is higher than its selling price. Thus, September 5, Norvik bank set the dollar purchase rate at Br4.873, while its sale rate was equal to Br14.912. The Latvian branch of the Swedish SEB Bank set the dollar purchase rate at Br5.103 and the sale - Br13.703, while the euro rate - Br7.251 and Br19.332, respectively.

Rietumu Bank of Latvia works with non-cash rubles. Buying rate is set at the rate of Br9.600 per dollar and sales - Br10.200, while euros - Br13.447 and Br14.550, respectively.

The rate of Belarus National Bank on September 6, as previously reported by Telegraf, is equal to Br5.186 per dollar. The rate has risen up by Br34 for a day. Meanwhile, in relation to a basket of currencies, the Belarusian ruble has fallen by 0.14% compared with the previous value. September 6, the value of the basket is equal to Br1.886.98. The Belarusian ruble to a basket of currencies' rate has declined by 78.91% since January 1, while against the dollar - by 72.87%, the Russian ruble - by 79.53% and against the euro - by 84.54%.

The experts of Moody's international rating agency believe that in case of floating exchange rate introduction in Belarus, the ruble can depreciate by 30-50% against the dollar, triggering inflation increase and import-depending industry losses.