29 March 2024, Friday, 3:52
Support
the website
Sim Sim,
Charter 97!
Categories

Belarusian ruble to fall further

8
Belarusian ruble to fall further

The ruble will continue to drop.

The average price of Russian gas for Belarus in the first half of the year dropped by $27 per 1,000 cubic metres compared to last year. In January-June 2014, it was $166.37 against $139.05 per 1,000 cubic metres for the first six months this year, zautra.by reports.

How will it influence our country's reserves?

“This is good. Expenditures decrease, and less foreign currency will be spent on gas,” senior analyst at Alpari Vadzim Iosub says.

He draws attention to the fact that the price of Russian gas is pegged to world oil prices.

“If oil price falls, gas price drops, too. It doesn't however mean that gas price will decrease for plants and end consumers. Perhaps, it will make margin for gas supplies grow,” the expert thinks.

A decline in gas price will reduce pressure on Belarus's forex reserves, according to him.

The Belarusian ruble continues to go down. The dollar rose against the ruble by 2%, and the euro rose 4% last week.

The analyst emphasises that the Belarusian ruble hasn't yet hit its record low of the second half of June against the currency basket.

According to the analyst, the stability of the Belarusian ruble will much depend on the Russian ruble, which is greatly influenced by oil prices.

The expert thinks oil prices will continue to fall, so the dollar and the euro will reach the historical high against the Belarusian ruble.

“The Belarusian ruble is most likely to continue falling against the currency basket,” Vadzim Iosub says.

Write your comment 8

Follow Charter97.org social media accounts