Belarusian rouble may lose some stability in June 2015

As of June 1^st, 2015, the National Bank will switch from fixing mode to continuous double auction mode when trading foreign currency on the Belarusian Currency and Stock Exchange. As a result, banks will set their own currency exchange rates when selling foreign currency to their corporate clients. Such measures will lead to greater national currency fluctuations against foreign currencies. In addition, corporate clients may leave some banks in favour of others, which would offer better exchange rates. Sharp fluctuations in exchange rates may have a negative impact on people’s deposits in the banking system. The National Bank said that if the negative trends on the foreign exchange market increased, it would switch back to fixing mode.