The National Bank of Belarus denies rumors of a sharp devaluation of the ruble

March 15, Minsk /BelTA correspondent/. The National Bank of Belarus refutes rumors about a sharp devaluation of the national currency, BelTA was informed by the information department of the country's main banking institution. In connection with the recent emergence of provocative rumors about a possible sharp devaluation of the national currency, which have become widespread thanks to certain media outlets and the Internet, the National Bank reported that these rumors do not correspond to reality in any way. "Furthermore, changes in the exchange rate of the Belarusian ruble that go beyond the parameters established by the Main Directions of Monetary Policy of the Republic of Belarus for 2011 are not planned and will not be made," the main banking institution noted. It was emphasized here that the National Bank will pursue a pricing policy strictly within the established corridor of permissible changes in the exchange rate of the Belarusian ruble against a basket of foreign currencies – plus or minus 8% relative to the exchange rate established at the beginning of 2011 (Br1057.04), while ensuring the smoothness and predictability of the exchange rate dynamics. At the same time, the bilateral exchange rates of the Belarusian ruble against the foreign currencies included in the basket (US dollar, euro, and Russian ruble) will also change insignificantly under the influence of mutual changes in the exchange rates of these currencies on world markets. Currently, to ensure the stability of the national currency, the National Bank possesses both all the necessary monetary instruments and gold and foreign exchange reserves. Their level is quite sufficient to maintain the stability of the Belarusian ruble and allows for the full satisfaction of demand for foreign currency from the population, prompt response to market changes in demand in the domestic foreign exchange market, and guarantees payments on external obligations. -0-