Belarusians rush to buy foreign currency
10:47, — Economics
A feverish demand for foreign cash began in late August, the Belarusian National Bank chief admits.
The chief of the National Bank of Belarus, Nadzezhda Yermakova, plucked up her courage today and told the truth about the market situation.
“More than 8 trillion Belarusian rubles were spent on buying foreign currency on the currency exchange,” AFN news agency quotes Yermakova.
She says individuals and legal entities have bought about 1 billion dollars for the last 6 weeks.
“Companies prepay foreign currency loans, enterprises don't sell foreign currency above the mandatory sales sum, people transfer money from their rubles deposits to foreign currency ones,” the National Bank chief confirms high devaluation expectations.