Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Belarus Rubles Ambitions
16.08.2007 14:51
Belarus Rubles Ambitions

Belarus will unhook its currency from the Russian ruble to tie it to the US dollar beginning in 2008. What motivated Belarus, political o economical reasons?
      
      "Beginning in 2008, the National Bank intends to refrain from the policy of coupling the official exchange rate of the Belarusian ruble to the Russian ruble," the bank said in a statement.
      
      Indexing the Belarusian ruble to the US dollar will help stabilize the Belarusian currency, and help Belarus increase its international trade, Belarus conceders. There are even more reasons: the weight of the US dollar on Belarus' currency exchange rates is more than Russian rubles; Russian and Belarusian economical models differ; Belarus accumulates reserves in dollars and pays its gas and oil bills to Russia in dollars.
      
      Still some economists call the decision political, saying it was tied to Belarus' open displeasure at Russia's decision to hike oil and gas export prices to Belarus earlier this year. The deterioration in relations between the Kremlin and Minsk can lead to the failure of creating economic and monetary union of two countries.
      
      www.echo.msk.ru
      www.newsru.com


Tags:      

Next Previous


You might also find interesting:








Comment on our site


RSS   twitter      submit



TAGS:
Moscow  Baikonur  Russian Cinema  PASE  St. Petersburg  Russian Architecture  Russian scientists  Space Exploration Day  Sceince  Russian economy  Football  Karachay-Cherkessia  Russian National Parks  Solovki  E.coli  Russian science  Russian business  LGBT in Russia  Stanislav Lomov  Theatres of Perm  Maria Sharapova  Odessa  Novgorod region  Russian Museums   Syria  Saint Petersburg  LUKoil   Moscow parks  Russian fashio  Ecotourism  Tram Monument  Tula Region  AK-102  technology  Russian airports  Russian tourism  Moscow hotels  Horses  Mercedes-Benz Fashion Week Russia  Dolls  national security  Exhibitions in Moscow  Anna Zelenova  Tryokhgorny  Philologists  Russian Playwrights  Alain Delon  Kaliningrad  Murmansk  Amur Region 


Travel Blogs
Top Traveling Sites