Lukashenko: No reasons to devalue Belarusian ruble

MINSK, 21 December (BelTA) – There is no objective need in Belarus to devalue the national currency. The statement was made by President of Belarus Alexander Lukashenko as he visited the Belarusian State University of Informatics and Radioelectronics and talked to students on 21 December, BelTA has learned. “We have no objective need to devalue the national currency today,” said the head of state. In his words, “The situation is being aggravated and you know who is doing it”. Alexander Lukashenko remarked that the exchange rate is not artificially restrained in Belarus. “As I promised, this year we have been using a market-shaped exchange rate. If there is a large demand, foreign currency costs more, if there is no demand, the National Bank buys foreign currency,” said the Belarusian leader. The President said that Chairwoman of the Board of the National Bank of the Republic of Belarus (NBRB) Ms Nadezhda Yermakova informed him about the currency market situation the day before. In particular, the situation is very good at the currency exchange, economic operators sell more foreign currency than they buy. The situation is slightly different as far as the population is concerned. “People buy and sell and yet buy a bit more,” said the head of state. In his opinion, the situation will slightly change after the New Year and people will once again start selling foreign currency. “There are many rumors running around and they contradict each other: they talk about either the end of the world or the need to buy US dollars. Who needs dollars in the afterlife?” wondered the head of state. “We don’t expect any devaluation of the national currency as from 1 January,” stressed Alexander Lukashenko. “Even if we had to spend $1 billion to support the currency exchange rate, we would do it,” said the President. “We have accumulated enough currency to maintain the exchange rate”. The head of state remarked that Belarus’ gold and foreign exchange reserves now exceed $8 billion. “They have never been that large. We haven’t had to sell gold at all”. “This is why, there is no need to buy foreign currency now because you will have to sell it after the New Year. But if people want to buy it, they may go ahead. There is enough foreign currency now,” said the President.

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