Business » Finance
Author`s name Dmitry Sudakov

Belarusian Ruble Is Only Stronger Than Ethiopian Birr

The National Bank of Belarus promised to restrain the rate of the national currency to keep the devaluation of the Belarusian ruble within the limit of ten percent. A Belarusian newspaper compared the current rate of the nation’s currency with the rate of 2008. The research showed that the Belarusian ruble has lost its value against 81 of 82 world currencies.

The Belarusian ruble is only stronger than the Ethiopian birr, which cost 219.85 rubles last year and now is evaluated at 219.83 rubles. The situation is much more complicated with other currencies that enjoy demand among the people of Belarus. The dollar in Belarus now costs 2,850 Belarusian rubles instead of 2,200, which marked a 29.5-percent increase for the American currency.

The euro in Belarus has grown by 33.6 percent. Last year, one euro cost 3,077 Belarusian rubles, whereas this year the cost is 4,112 rubles.

The economic crisis hit the Russian ruble, but it has grown anyway – from 77 to 95.5 rubles (by 24.2 percent), Interfax reports.

The Ukrainian hryvna is not popular in Belarus at all: the price of the Ukrainian currency is very low too. However, the hryvna is more expensive than the Belarusian ruble. The hryvna has had a 30.7-percent increase during the year – from 273 to 357 rubles.

The currencies of Belarus’s neighboring states have grown against the nation’s currency too.

The Chilean peso and the South-African rand have had the largest increase – 72 percent. The Australian dollar in Belarus costs 70 percent more than it did last year.

The devaluation level of the Belarusian ruble is close to the currencies of Tajikistan, Armenia and Nigeria.

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