Belarus Exchange Rate

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Belarus: Belarussian ruble weakens rapidly in August

September 7, 2015

The Belarussian ruble (BYR) weakened rapidly in recent weeks, declining sharply against the U.S. dollar. On 25 August, the BYR reached a new all-time low against the greenback, ending the day at 17,848 BYR per USD. This was 18.0% weaker than the level observed on the same day of the previous month and represented a 23.1% depreciation in the year-to-date. Since 25 August, the ruble has hovered near its record-low value.

The ruble’s weakening has come largely on the back of poor economic news emerging from Russia, Belarus’ main trading partner. In addition, a lack of international reserves, which have fallen below three months’ worth of imports, and a large number of foreign debt payments in the pipeline have prevented the Central Bank from supporting the ruble this year, leading to a more freely-floating currency.

FocusEconomics Consensus Forecast panelists expect the ruble to trade at 17,074 BYR per USD at the end of 2015. For 2016, the panel sees the ruble trading at 19,295 BYR per USD.


Author: Angela Bouzanis, Senior Economist

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Belarus Exchange Rate September 2015

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


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