Belarus Adopts ‘Managed’ Ruble Float, May Raise Main Rate
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Belarus’s central bank will operate a “managed float” of the ruble to smooth volatility on the foreign-exchange market and may increase the world’s highest interest rate for an 11th time this year.
The ruble slid to 8,680 per U.S. dollar from 5,712 after the official government exchange rate was unified with a free-floating rate introduced last month. The central bank expects the currency to appreciate and would like it to reach 7,000-8,000, Chairman Nadezhda Ermakova said today.