NBRB gives no projections for Belarusian ruble exchange rate in 2013

      The National Bank of the Republic of Belarus (NBRB) has not recently voiced any projections as to the official exchange rate of the Belarusian ruble in 2013, First Deputy Chairman of the Board of the National Bank Nikolai Luzgin told reporters.
      He explained that the exchange rate is shaped by market mechanisms.
     (record)
      We have not voiced any official projections for the exchange rate of the Belarusian ruble against US dollar and other currencies. By the way, this is not done in other countries.
       In 2012 the exchange rate of the Belarusian ruble against US dollar has dropped by 2.6%, against euro by 5%, against the Russian ruble by 8%. No one knows how the exchange rate of US dollar against euro or the Russian ruble will change after a certain period of time; however, this will also have an impact on the exchange rate of the Belarusian ruble, because our currency is pegged to the basket of the three currencies.
      The exchange rate of the Belarusian ruble is shaped by market mechanisms. In 2013 the National Bank has no plans to artificially control the exchange rate; the bank will only smoothen sharp fluctuations and maintain stability on the financial market. 
      I think the situation will remain rather stable. With the planned inflation rate at 10-12%, one can expect some minor devaluation, like in the previous year. However, if devaluation is not big, there will be no problem. If real income and GDP increase simultaneously, the situation will remain normal.