Arab Today, arab today belarusian ruble floats free dives 52 percent
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Belarusian ruble floats free, dives 52 percent

Arab Today, arab today

Arab Today, arab today Belarusian ruble floats free, dives 52 percent

Minsk - Xinhua

The official exchange rate of the Belarusian ruble fell 52 percent Thursday, as the cash-strapped country floated its currency. The new unified session of the Belarusian Currency and Stock Exchange set an exchange rate of 8,680 rubles per U.S. dollar, against 5,347 previously. It is the second major devaluation this year in the official rate, which began the year at 3,000. The previous devaluation was in May. Belarus is facing a severe financial crisis due to a large trade deficit and rapidly falling hard currency reserves. The country was due Thursday to relax more of its strict currency trade regulations to meet conditions for an IMF rescue loan that could pull it through the winter months. The full market free float follows a week of special short sessions in which the local ruble was traded freely while most firms were forced to sell their foreign currency at a less advantageous official rate. Analysts say the free float will restore the balance between supply and demand for foreign currency and will lead to the current account re-balancing. President Alexander Lukashenko predicted earlier this week that the ruble rate would soon stabilize and start climbing again. In May, the Belarusian National Bank devalued the ruble by 56 percent. The World Bank said the devaluation was the biggest in 20 years.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today belarusian ruble floats free dives 52 percent Arab Today, arab today belarusian ruble floats free dives 52 percent

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today belarusian ruble floats free dives 52 percent Arab Today, arab today belarusian ruble floats free dives 52 percent

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday