Belarusians are losing confidence in the national currency
Last month, the Belarusian ruble began to rapidly lose value against the dollar and euro.
Nezavisimaya Gazeta writes about this, citing statistics from the Belarusian National Bank.
“The gold and foreign exchange reserves of Belarus as of April 1 amounted to $7,8 billion, which is $1,456 billion, or 16,3%, less than at the beginning of the year,” the publication says.
“As you know, in March the Belarusian ruble began to rapidly lose value against the dollar and euro. Thus, against the dollar, it lost 16% of its value in March and about 23% by the beginning of the year. The reason is the fall in oil prices, and with them the exchange rate of the Russian ruble, with which the Belarusian ruble is closely linked. The share of the Russian ruble in the Belarusian currency basket is 50%,” the article notes.
“The fragile trust of Belarusians in national money, which had only just begun to form in the last two years, immediately began to collapse, and the population ran to exchange offices,” the newspaper writes.
Belarusians are losing confidence in their national currency.