Belarus Exchange Rate February 2016

Belarus

Belarus: Belarussian ruble tumbles at the onset of 2016

February 4, 2016

The Belarussian ruble (BYR) plummeted at the start of 2016, declining sharply against the U.S. dollar. On 2 February, the BYR reached a new all-time low against the greenback, ending the day at 21,675 BYR per USD. This was 16.4% weaker than the level observed on the same day of the previous month and represented a 39.0% depreciation in the year-over-year.

The ruble’s weakening has come largely on the back of currency weakness in Russia, Belarus’ main trading partner. In addition, a lack of international reserves, which have fallen below three months’ worth of imports, and have likely limited the Central Bank from supporting the ruble.

FocusEconomics Consensus Forecast panelists expect the ruble to trade at 21,117 BYR per USD at the end of 2016. For 2017, the panel sees the ruble trading at 22,250 BYR per USD.


Author: Angela Bouzanis, Senior Economist

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Belarus Exchange Rate February 2016 0

Note: Daily spot exchange rate of Belarus ruble (BYR) against U.S. dollar (USD).
Source: Thomson Reuters.


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