Along with the new foreign exchange rate National Bank of Belarus is restoring rate fixing restrictions on May 24. Now limiting values of exchange rates for foreign currency purchase-and-sale and conversion on the OTC and cash market can only + / -2% differ from the National Bank rate (conversion — from the cross-rate, calculated on the basis of the official rate of Belarusian ruble to the respective currencies).
The National Bank explained that the purpose of this measure is «leveling the transactions of foreign currency purchase-and-sale in various segments of the foreign exchange market, as well as reducing opportunities for speculative operations with currency.
The order of bidding on the Belarusian Currency and Stock Exchange remains unchanged — the priority of nominations for the purchase of foreign exchange, established by the decision № 89 of the National Bank of March 22, 2011 (to pay for medicine for the natural gas delivered to the republic, for the repayment of loans in foreign currency and for other purposes).
Further steps of the Government and National Bank, aimed at achieving macroeconomic balance in the country, will contribute to the Belarusian ruble sustainability.
According to Telegraf, May 24, to enter the single equilibrium exchange rate of Belarusian ruble at all segments of the domestic foreign exchange market, the National Bank set the official ruble-to-dollar rate of Br4.930, ruble-to-euro — Br6.914.82, with respect to the Russian ruble — Br173.95, in relation to other foreign currencies — based on cross rates of foreign currencies to the dollar.
The central value of the ruble cost of the foreign currencies basket is set at Br1.810. The boundaries of permissible fluctuations are kept by the National Bank within ± 12% relative to the fixed central value.
«The new ruble central value of the basket corresponds to the current economic conditions, as well as the expectations of most market participants, and is an element of macroeconomic adjustment, implemented by the Government and National Bank, aimed at the alignment of external imbalances and stabilization of the domestic foreign exchange market,» the National Bank.
