bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Tuesday 28.04.2015 | Name days: Terēze, Gundega

Panic ensues amongst Belarus residents after 56% devaluation of national currency

FaceBook
Twitter
Draugiem
print
(+1 of 1)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUBelarus National Bank has announced 56% devaluation of its national currency – the Belarusian rouble, thus evoking panic amongst Belarus’ residents, hurriedly stocking up food and other goods.

According to the National Bank, Belarusians spent Monday, May 23, nervously queuing to buy up food and petrol because from Tuesday, May 24, it will become on average 20% more expensive and diesel will spike 24%, reports BBC.

The currency was devalued to replace several Belarusian rouble rates with one and reduce the pressure on the national currency. From May 24, the exchange rate against the dollar will be 4 930 roubles, but against the euro – 6 914.82 roubles, meaning the roubles will drop 56.3% and 53.1% against the dollar and the euro, respectively.

The National Bank dubbed the decision as the macro-economic adjustment aimed at the alignment of internal unbalance and the internal currency market stabilization.

Belarus citizens opt for spending all the available money and savings, considering these funds to be already worthless.

One Belarus resident bitterly indicated his neighbours bought large quantities of sugar and salt during the previous week, but he only laughed at them, because the news on TV said warehouses are full and there will be no deficit.

Regarding money, Lukashenko repeatedly pointed out that in case of devaluation, the population will be timely warned.

The panic caused by people snatching out food, matches, furniture and household appliances occurred in several regions of Belarus already two weeks before the official devaluation.

 

 


Leave a reply

  1. Ren says:

    This is government’s fault –it had to warn the people prior to devaluing the currency.

    Thumb up 0 Thumb down 0

    • bob says:

      Can you please advice me that i am living in Moscow should i do investment in Belarus right now should i buy some apartment over their? in this crises i think the prices of property have devalue. What will you advice me.

      Thumb up 0 Thumb down 0

Why do Estonians earn less, working more than the Dutch?

Estonians work for a lot more hours than most of the Organisation for Economic Co-operation and Development (OECD) states, but earn less.

170,000 people participated in this year's Big Cleanup in Latvia

Approximately 175,000 residents have participated in this year’s Big Cleanup event in Latvia. In 40% of all official locations, residents performed not only cleaning duties, clearing the landscape of garbage, but also different landscaping activities.

DNB barometer: spring has yet to bring any positive results

In spite of the traditional improvement of the mood of residents in spring, results of the latest DNB barometer show that the general mood among the populace has worsened slightly.

Passenger service continues after resolution of bombing threat

After information was received from an anonymous caller regarding an explosive object placed somewhere on the premises of Riga International Airport, a state of emergency was announced and all people were evacuated from the terminal. The situation has been resolved and Riga International Airport has restored full functionality.

Kremlin's massive media campaign urges U.S. to boost its own «propaganda tools»

Reacting to the ongoing misinformation wave of Russia in Eastern Europe, increasingly louder calls to counter the campaign have been voiced in the U.S. Congress.

Number of victims in Nepal's disastrous earthquake increases

The death toll of the disastrous earthquake that shook Nepal on Saturday, April 25, at least 3 218 people have died.

Lithuania’s political and economic diary. Army’s mobilization drill show excellent recruits’ readiness

Mobilization check has revealed that nine out of 10 reserve troops would be fit for military service in Lithuania, the army’s representatives said.

Economic Diary of Latvia. Two scandals and both of them smell

Another fumble involving sprats had taken place this week. This time, however, the story does not revolve around someone’s ban on sprats: local producers have accused the Latvian Foreign Ministry of ruining plans to supply Latvian sprats to China.

Judges decide to propose Bickovics for the post of Chairperson of the Supreme Court

Today, April 24th, Judges of the Supreme Court of Justice proposed the current Chairperson Ivars Bickovics as an official candidate.

Report: Switzerland is the happiest country in the world

Switzerland has become the happiest country in the world, followed by Iceland, Denmark, Norway and Canada, according to a report by UN experts.

Reirs: EU works to make sure Greece decides to remain in Eurozone

No one among Europe’s finance and economy ministers expect the worst scenario to occur for Greece. Ministers are currently working hard to make sure Greece decides to remain in Eurozone, said Latvian Finance Minister Janis Reirs in his interview to Latvijas Radio.

Lithuanian liberals revive idea of holding referendum on dual citizenship

Still high from windfall in March 1 municipal election, Lithuania’s Liberal Movement fans the flames with an initiative on legalizing dual citizenship in the country.

EU decides to triple funding to migrant search and rescue work in the Mediterranean

To triple funding for migrant search and rescue operations in the Mediterranean – such a decision was agreed upon by European Union heads of state and government at a meeting on Thursday, April 23, in Brussels.

Producer price level in Latvia down by 0.1%

Compared to February, the level of producer prices in the Latvian industry dropped by 0.1% in March 2015.

Healthcare Ministry re-elects the same people in boards of four hospitals

The selection process for management posts in multiple hospitals has concluded in Latvia. Healthcare Ministry has once again re-elected the same people in posts of four hospital management boards.

Vejonis: allied support is vital to Latvia’s safety

Continuing his visit to USA, Latvian Defence Minister Raimonds Vejonis met with Senator Jack Reed to discuss the European Reassurance Initiative this Wednesday, April 22nd.

Brussels suggests empowering states to ban use of GMOs in food products

To empower member states to ban use of genetically modified organisms in human and animal food products – this has been suggested in a proposal by the European Commission on Wednesday, April 22.

Bondars: in Liepins’ situation, I stand with use of legal means against unlawfulness

Commenting Saeima deputy Dainis Liepins decision not to leave the April 16th meeting of the Saeima, Chairperson of Latvian Regional Alliance Martins Bondars says he stands with application of legal means against unlawfulness.

Euro value remains at recent-weeks' level, oil prices stabilise

With eurozone quantitative easing in full swing, the value of the single currency has remained in its level of the past few weeks.

Transit through Estonia decreases, while Latvia and Finland experience higher transit volumes

The volume of goods carried through Estonia is declining, while Latvia and Finland have managed to ensure an increase in transit, Estonian Logistics and Transit Association evaluates.

U.S.: Russia deploys more air defence systems in Ukraine's east

The U.S. has on Wednesday, April 22, accused Russia for deploying additional air defence systems in Ukraine's east in breach of the current Minsk truce.

Birth rates and marriages on a rise in Latvia

Over the last four years, the number of annually registered marriages has increased in Latvia from 10.8 thousand in 2011 to 12.5 thousand in 2014. During the first quarter of this year, 1,757 marriages have been concluded in Latvia, which is 307 marriages or 21% more than in first quarter of 2014.

Vejonis: the west has made a mistake in assessing Russia by its standards

Western countries have failed to assess Russia’s behaviour toward other countries in a correct way. This is because Russia’s development relies solely on internal development dynamics. This is why it is important to maintain a strong position and support from allies in the Baltic Region, said Latvian Defence Minister Raimonds Vejonis during a discussion held at the Centre for Strategic and International Studies.

Tallinn hosts NATO cybersecurity drill

This week the Estonian capital Tallinn hosts annual NATO cybersecurity drill, where 400 participants from 16 countries gather to increase their skills in countering cyberattacks.

Expert: first projects to use EU funding to be announced in June

Although the planning period for the use of EU funds had begun in 2014, the first projects that involve resources from the new programme will be launched in June 2015, says Eurofondi.lv consultant Natalija Kozemjakina.

Newest comments