Exchange Rate in Belarus
Belarus - Exchange Rate
Belarusian ruble dives against the U.S. dollar
The Belarusian ruble (BYR) plunged against the U.S dollar over the past month amid the increasing global economic fallout from the fast-spreading Covid-19 pandemic. The ruble ended 3 April at 2.59 BYR per USD, a 10.9% depreciation over the same day in March. Moreover, the currency was down 13.8% year-on-year and 15.5% year-to-date.
The currency came under significant pressure in recent weeks as global economic prospects deteriorated markedly due to widespread lockdowns in most major economies and the associated shocks across the financial and commodity markets. The Belarusian ruble has been increasingly suffering from investors’ growing risk aversion and rising demand for foreign exchange in the domestic forex market. Moreover, the BYR was further dragged down by a marked depreciation of its Russian counterpart, which plummeted over the recent weeks in response to a global oil price crash.
Going forward, significant headwinds are likely to affect the stability of the Belarusian ruble. A worsening global economic backdrop and weakening demand for emerging market currencies are set to continue weighing on the BYR, with subdued global oil prices adding further downward pressure. The Central Bank, meanwhile, seems reluctant to drastically intervene in the foreign exchange markets and appears committed to a flexible exchange rate regime.
FocusEconomics panelists project the BYR to end 2020 at 2.58 per USD and end 2021 at 2.65 per USD.
Belarus - Exchange Rate Data
|Exchange Rate (vs USD)||1.86||1.96||1.97||2.17||2.11|
5 years of economic forecasts for more than 30 economic indicators.
Belarus Exchange Rate Chart
Source: Thomson Reuters.
|Exchange Rate||2.10||-0.36 %||Dec 31|
|Stock Market||0.1||0.0 %||Jan 07|
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June 22, 2020
At an emergency meeting on 22 June, the National Bank of the Republic of Belarus (NBRB) trimmed the refinancing rate by 25 basis points to an all-time low of 7.75%, effective on 1 July.
June 17, 2020
Industrial production declined 4.3% year-on-year in May (April: -7.1% yoy).
June 11, 2020
Consumer prices dipped 0.1% in May over the last month, contrasting April’s 0.6% increase.
June 10, 2020
Consumer prices increased 0.19% over the previous month in June, contrasting the 0.10% fall logged in May.
May 18, 2020
Industrial production nosedived 7.1% year-on-year in April (March: -1.5% year-on-year).