National Bank to use floating exchange rate in 2024

October 23, Pozirk. The National Bank will use the floating rate in its 2024, its newly approved monetary policy guidelines say.

Belarusian rubel exchange rate will depend on the demand and supply of foreign currency in the domestic market.

The central bank will intervene only to “mitigate sharp fluctuations of the exchange rates” at the Belarusian Currency and Stock Exchange.

Should supply consistently exceed demand, the National Bank will purchase foreign cash to increase gold and foreign exchange reserves.