Belarus’s Currency Reserves Cover One Month’s Imports, RBS Says
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Belarus’s foreign-currency reserves cover about one month of imports and the former Soviet Republic may be forced to devalue its currency as it looks to neighboring Russia for aid, Royal Bank of Scotland Group Plc said.
The central bank of Belarus has lost about 60 percent of its convertible foreign-currency reserves since October, at about a pace of $500 million per month, Timothy Ash, head of emerging-market research at RBS in London, wrote in an e-mailed note today, citing his calculations based on central bank data.