Economist: Belarusians Have no money to buy currency

The economist explained why the exchange no hype in connection with the growth of the dollar.

This week the dollar set on the exchange a new record, reaching Wednesday, February 26, marks in 2,2378 of the ruble. Recall so expensive American currency we have is not worth it. And despite the fact that on Thursday, February 27, the green slug has fallen in price – up to 2,234 ruble, the trend is a little happy – rose-it for February more than 10 cents. In exchange offices the currency is more expensive – the dollar could buy at least 2,236 ruble, writes

In the old days the fall of the ruble caused a stir. Why today people are not in a hurry to buy foreign currency?

– The main reason that there is no panic, the rush and the queues near exchange offices banal: the population simply can not afford to buy the currency. It’s not about the fact that Belarusians are now poorer than they were prior to the previous devaluations. The reason is somewhat different: people do not have those rubles that they could take right now to run to the exchange, said a senior analyst “Alpari” Vadim Iosub. – It is unlikely that a large number of Belarusians keeps under his pillow, a substantial amount of Belarusian rubles. Those who have the opportunity to make savings, do it either in currency or in Belarusian rubles on the deposits. At a rate of about 12% and the current level of inflation it makes sense to keep rubles in the Bank, but the point to keep the ruble under the pillow no. In the old days, which we recall, when the panic in the fall of the ruble was practically all deposits were de facto with the possibility of early opinion. In fact, it was a “money on demand”. Even if it was called a term Deposit (one year, two, three), it was always possible to interrupt and very often, even with a very small loss of interest.

Now the system has changed. Bank deposits are divided into revocable and irrevocable, and the latest rate is significantly (almost two times) higher than the first. Those who have serious savings in Belarusian rubles in the banks, keep the money in an irrevocable Deposit, early withdrawal of money from which only in exceptional cases of force majeure and only in individual cases by decision of the Bank. It turns out that “hot” roubles from the people at the hands of not very much, so in the exchanger to escape not particularly anything.