National Bank intends to narrow the corridor for the currencies basket in 2011.


Since January 2008 the Belarusian ruble pegged to the basket of three currencies (US dollar, Euro and Russian ruble). At the same time, the borders of fluctuation are fixed in the borders of 10%. For the next National Bank of Belarus is planning to narrow it to plus or minus 8%.This means that the extent to which the same dollar or euro may rise or fall, will be less. 

The National Bank confirms that this option is prescribed in the main directions of monetary policy in 2011. However, the document hasn’t been signed yet.

- Theses changes have a background. In the first half of 2010 the Belarusian ruble has strengthened against a basket of currencies. In the second half we don’t expect fluctuations neither, - explained the spokesman of the National Bank Anatoly Drozdov. 

However, financial analyst Sergei Chaly said that these changes won’t affect Belarusians pocket. 

- Most likely, this will be done in order to increase public confidence in the Belarusian ruble, since these 2% for the average person will not be noticed, - the expert suggests. - But, in my opinion, it would be better to expand the corridor, rather than narrower: the fact that the prices of our products are growing faster than foreign, makes export less compatible. And the more wider corridor - more opportunities to influence this situation.

 According to Belarusian portal belta.by