Analysts Predicting Record Increase In Dollar Price In Belarus

• 7.08.2023, 7:47

The maximum of the year will be renewed.

The Russian ruble exchange rate has all chances to weaken further, which will affect the Belarusian ruble as well. Russian economists are cautiously calling the figure of Br100 per dollar, because psychologically it sounds uncomfortable. But the reality is that it doesn't feel sorry and it's not excluded that Russian consumers will have to get used to the new rates by the end of August, and maybe even earlier, writes myfin.by.

Everything is going its way on the OTC Forex market, and the EUR/USD pair, having pushed from the local minimum of EUR/USD 1.0918, returned to growth by the end of last week and the closing rate is fixed at EUR/USD 1.1035.

The reason for this buoyant mood was the NFP labour market statistics in the States on Friday August 4. The number of newly created jobs decreased in July 2023, which led to the growth of EUR/USD. It is quite possible that this factor will support the euro growth during this week and we can expect EUR/USD to return to 1.1100.

Given the above, the Belarusian currency market may see further growth of the dollar to the level of USD/BYN 3.1300-3.1500. The euro also continues to grow to EUR/BYN 3.4000. The Russian ruble is under pressure and a rate of RUB/BYN 3.2600 per 100 Russian rubles is possible.