OREANDA-NEWS. July 31, 2008.  In January-July 2008 the official exchange rate of the Belarusian ruble against the US dollar shrank by 1.7% to make up Br2,114 per \\$1 as of August 1, 2008.

Meanwhile, the exchange rate of the Belarusian ruble against the Russian ruble went down by 3% to reach Br90.27 per one Russian ruble as of august 1.

Over the past seven months the official exchange rate of the Belarusian ruble against the euro fell by 4.2% to make up Br3,301.12 per one euro as of August 1

The monetary policy of the National Bank of Belarus remains focused on ensuring stability of the Belarusian ruble exchange rate to mitigate the intensity of inflation processes.

In line with the monetary guidelines of the Republic of Belarus, this year the exchange rate of the Belarusian ruble against the US dollar is expected to fluctuate within a band plus/minus 2.5%. The exchange rate against US dollar may be between Br2,000 and Br2,200 per \\$1.

In 2009 the National Bank is going to peg the national currency to a system of foreign currencies which will make the Belarusian ruble more flexible against the US dollar. The Belarusian ruble is estimated to fluctuate 5% against US dollar next year. The move is envisaged in the draft monetary policy guidelines of Belarus for 2009. The increasing role of euro and Russian currency in foreign economic transactions makes the exchange rate of the Belarusian ruble against these currencies more important for the economy.