Belarus Ruble Slides 15%

May 19, 2011

MINSK ?€” The Belarussian ruble tumbled 15 percent to a record low against the dollar on the interbank market as importers and companies boosted demand for foreign currency.

The currency slipped to 7,625 per dollar by 10:45 a.m. Wednesday in Minsk. That's almost three times weaker than the central bank's official dollar-ruble rate, set at 3,130 per dollar.

The ruble has sunk about 56 percent on the interbank market since April 19, when the central bank lifted restrictions that compelled banks and companies to keep within 2 percent of an official daily ruble rate.

(Bloomberg)

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