Currency may appear in exchange offices in May - National Bank

April 22, Minsk / Vasily Malashenkov - BELTA /. Cash currency may appear in exchange offices in May. This was announced to journalists by Anatoly Moroz, head of the main department of currency regulation and currency control of the National Bank of Belarus, as reported by a BELTA correspondent. "We are expecting external borrowings. First of all, negotiations have been held with the Russian Federation. It demanded a program of measures from us to overcome the crisis, which has already been presented. Next week, or perhaps in May, this issue should be resolved. After that, all steps will be taken to stabilize the currency market of the Republic of Belarus," Anatoly Moroz explained, adding that cash currency will appear after that. He also noted that the dollar exchange rate at Br3.8 thousand is an adequate assessment. "The exchange rate that is currently set on the over-the-counter market is inflated." In addition, Anatoly Moroz reported that the inflow of foreign exchange earnings in January amounted to about $2 billion. Similar figures were recorded in February, and in March - more than $3.5 billion. "The economy, one might say, has already started working. In April, we are proceeding at the same pace in terms of foreign exchange earnings," the representative of the National Bank noted. Anatoly Moroz emphasized that the hype around exchange offices was created by individuals themselves. First, there was an increase in demand in the fall of 2010, when, after certain anti-crisis measures, a hype arose in Ukraine. "Our population also created a hype through word of mouth," the specialist said. Then, a hype arose this year as well. According to the representative of the National Bank, the media fueled the situation. "If the population had bought currency and put this money into the banking sector, there would have been a different resonance," he noted. According to the National Bank, in January 2011, the population bought $50 million, in February - only $12 million, and in March - $700 million. For the entire past year, $1.5 billion was purchased. Moreover, many people keep their money not at home, but in bank safe deposit boxes. "You won't find any free safe deposit boxes in banks now," Anatoly Moroz noted. -0-