Waiting for devaluation: Belarusians rush to buy foreign currency

The data for June-September demonstrate that more foreign currency has been sold to the population than bought.

In September, individuals bought 57.2 million dollars more that they sold. In August this figure was $35mn, in July – $60mn, in June – $30.9mn. By the way, the population was a seller of foreign currency. It means that it sold more than it bought, “Belorusskie Novosti” reports.

The shift in public preferences of foreign currency is obvious. The statistical data are confirmed by some facts from real life.

Cases of boom in demand for foreign currency were recorded in the Brest region two weeks ago. head of National Bank’s information department Anatoly Drazdou confirmed to “Vecherny Brest” newspaper that recently there was a growth in demand for foreign currency in the country’s regions.

Representatives of commercial banks suppose the situation on the foreign currency market will remain strained until the end of the year.

Moreover, Belarusian banks expect the demand for foreign currency will grow further in the forth quarter due to the wage raise, expectations of devaluation by the population, and upcoming presidential election.