The Belarussian ruble strengthened on Thursday to 14,960 to the dollar from 15,010, its first gain on the national currency exchange in 2015 after suffering from fallout from economic turmoil in its main trading partner, Russia.
The Central Bank has devalued the ruble 18 percent since the beginning of last week, part of a series of emergency steps to defend itself from a sharp weakening of the Russian ruble.
The Belarussian currency has lost almost 28 percent in value since mid-December, around the time when Western sanctions over Ukraine and a sliding oil price pushed Russia's ruble to record lows.
The Central Bank in Minsk will base its official exchange rate for Friday on the rate set on the currency and stock exchange on Thursday.
It has said it will only step in to protect foreign exchange rates using its gold reserves at times of peak volatility.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
