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Belarusians Offer Br8.8 Thousand for a Dollar on "Black" Market

Users of the site Prokopovi.ch, an alternative platform for currencies exchange, set the dollar buying rate at Br7.5-8.2 thousand on Tuesday, August 23. Those, willing to sell dollars, offer Bt7.9-8.8 thousand, while legal entities – Br8.68-9 thousand.

The average purchase rate on August 22 amounted to Br7.973, while the average selling rate was Br8.228. Buying and selling the euro is 11 181 and 11 739 rubles, and the Russian ruble - 266.1 280.1 and Belarusian ruble. The current buying and selling dollar rate on August 23 at 11:48 is Br7.282 and Br7.907 respectively, euros – Br9.892 and Br11.161, the Russian ruble - Br241.7 and Br269.7.

However, site users state their readiness to buy a euro for Br11-11.55 thousand (legal entity - for Br10 thousand) and sell it for Br11.5-12.8 thousand, the Russian ruble - Br220-280 (legal entities - Br270) and at Br210-291 (legal entity - Br280-323), respectively.

The official rate of the National Bank is much lower. As Telegraf previously reported, the central bank estimates the dollar at Br5.035 (a new record of the official exchange rate). According to the senior analyst at Forex club in Belarus, Valeri Polkhovski, this situation indicates that the population expects devaluation.

"In principle it is always useful to understand the volume ratio of different segments of fx market, but a large role is given to the possibility of the expectations formation (increasing or decreasing rate), which is decreasing in our case. These are devaluation expectations," "Infobank."

According to the specialist, the increased rate of currency in the "black" market can also affect a non-cash segment right through devaluation expectations. It's connected with the fact that the officials, responsible for controlling subjects of management, also discuss the currency situation at home, said the expert.

Valeri Polkhovski said that economic agents are waiting for some kind of "final decisions" of the authorities, announced by the Council of Ministers in early August. Thus, there is a supply shortage, making the market rate rise. As a result, a rapid rollback to former prices can happen if it becomes obvious that the price rise was not justified.

"Here's an example: Saturday, WebMoney exchanger set the dollar rate at Br7.9 thousand, while on Monday - already Br7.5 thousand (Tuesday, August 23, the site Prokopovi.ch is selling WebMoney for Br7.7-7.9 thousand - Telegraf.) Classic! Market is getting cranky, which is used by speculators, trying to change hard currency with profit," said the analyst.

External source of this news: http://telegraf.by/en/2011/08/na-chernom-rinke-belorusi-predlagayut-dollari-po-8-8-tis-rublei
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