Economist Leonid Zaiko believes that the introduction of free foreign exchange rate has become the experimental steps of the Belarusian National Bank. "By and large the National Bank is now at a loss as a sort of guinea pig. Banks are allowed to set their own rates, today it is around Br4 thousand per dollar. But this is only the beginning of a possible rate alignment," said Leonid Zaiko.
According to the economist, this step of the National Bank will not only let learn the real value of the Belarusian ruble, but will become «a real test of the country’s economic system,».Leonid Zaiko also believes that the free exchange rate won’t let overcome the shortages of currency in a moment. According to the economist, the demand will still outstrip the supply in the near future. In this regard, Leonid Zaiko suggested that the dollar would exceed the current average indicator of Br4 thousand.
As Telegraf previously reported, May 11, 2011, National Bank lifted recommendation restrictions for banks to establish currency rates in transactions with the public for buying and selling foreign currency, set at the rate of + / -2% of the official rate. As explained in the National Bank, it is done in the framework of the phase-out plan for establishment of a single Belarusian ruble exchange rate and stabilization of the situation on the domestic market.»
Head of Information of the National Bank, Anatoly Drozdov, commenting on the decision, said that it will positively affect the situation with cash in the country. According to him, after the exchange rate is «released,» lines at the exchangers become senseless. «In addition, a representative of the National Bank does not rule out the possibility that the exchange rate of commercial banks may shortly fall, equaling to the official one.
