Belarus Ruble May Devalue 20% on Deficit, UniCredit, RBS Say
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Belarus may devalue its ruble by at least 20 percent in the coming weeks as the former Soviet republic depleted reserves to plug its current-account deficit, according to UniCredit SpA and Royal Bank of Scotland Group Plc.
The country’s reserves including foreign currencies and precious metals dropped 20 percent this year to $4.02 billion at the end of February, according to data on the central bank’s website. This year’s retreat follows a 11 percent drop last year, the data show.