An Unexpected "surprise" For The Foreign Exchange Market Of Belarus Came From Russia

• 15.06.2025, 14:36

The Belarusian ruble will start weakening against the dollar.

June 6, the Central Bank of Russia reduced the key rate - it's analogous to the refinancing rate in Belarus - to 20% per annum. Economist Anastasia Luzgina predicts that against this background, the Russian ruble may gradually weaken against the dollar, followed by the Belarusian national currency, writes "Zerkalo".

What decision was made in Russia and how it can affect the foreign exchange market of Belarus

In Russia, June 6, the Central Bank reduced the key rate by 100 basis points - to 20% per annum. "The main pro-inflationary risks are associated with a longer persistence of the Russian economy's upward deviation from the balanced growth trajectory and high inflation expectations, as well as with the deterioration of foreign trade conditions. Further decline in the growth rate of the global economy and oil prices in case of strengthening trade contradictions may have pro-inflationary effects through the dynamics of the ruble exchange rate," explained the Russian Central Bank.

The situation on the Belarusian fx market largely depends on the situation in Russia, explained earlier economist Anastasia Luzgina. She predicted that the Russian Central Bank may reduce the key rate. "This is able to affect the Russian ruble - in the direction of reducing its rate," explained the economist.

Anastasia Luzgina predicted that the Russian ruble would gradually weaken against the dollar against the background of the key rate reduction by the Central Bank of Russia, followed by the Belarusian ruble.