Ruble/dollar exchange rate reaches 9,500 at markets

Lack of confidence in the Belarusian rubles makes small businessmen insure against exchange rate fluctuations.

Furniture firms, car dealers and building materials dealers use the exchange rate 9,000-9,100 rubles per dollar. The rate even reaches 9,500 rubles in some cases, Nasha Niva reports.

The National Bank chief, Nadzezhda Yermakova, admitted on Friday that Belarusians rushed to exchange rubles into dollars.

“One trillion rubles were withdrawn from deposits from July 1 to July 10. This sum in dollar equivalent appeared on foreign currency deposits,” she said. “People also bought 130 million dollars to keep them at home. But money is money only if it works for economy and brings income.”

The National Bank chief said the country had enough foreign currency and asked people not to buy it.

The exchange rate in Minsk banks already reached the psychological threshold of 9,000 rubles per dollar.