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Belarusian president to refrain from national currency devaluation

April 22, 2014, 19:08 UTC+3 MINSK

Earlier, Belarus' president said that the national currency had been devaluated 9-10% in 2013

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© ITAR-TASS/Vadim Rymakov

MINSK, April 22. /ITAR-TASS/. Belorussia’s authorities do not plan to lower the national currency rate through administrative measures, President Alexander Lukashenko told the population and the country’s parliament on Tuesday, adding he saw no causes for massive national currency devaluation.

“We are not planning to devaluate our currency and we will do everything possible to avoid it. If we find devaluation necessary, in case we are out of gold reserves, or if these slump to an estimated critical limit, we will easily do it. If we add some 5-6% by the end of the year, it will be OK”, he said.

Some suspect that the Belorussian ruble will lose much of its value after the Ice Hockey World Championship in Minsk, scheduled for May 2014. Lukashenko assured the people that those were just groundless rumors.

“If any of you want to rush for currency exchange offices, you are free to do so. One can easily change the currency without any problems today; but do not blame anyone but yourself afterwards. We are not going to devaluate anything, don't you worry. You better spend your spare cash on shopping”, he said.

Earlier, Belarus' president said that the national currency had been devaluated 9-10% in 2013.

“During the year our currency’s exchange rate fell 10% against the US dollar, and approximately 9% against the whole currency basket, including the US dollar, the euro and the Russian ruble. This means that we have never stuck to the national currency despite the foreign trade deficit,” concluded the president.

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