Moodys Forecast: Belarusian Ruble Will Fall 30-50%
OREANDA-NEWS. September 14,
Belarusian President Alexander Lukashenko said Aug. 30 the exchange rate would be determined by the market during special trading sessions that begin this month.
That should lead the ruble’s value to fall 30%-50% against the U.S. dollar, Moody's said in its Weekly Credit Outlook, accelerating inflation and damaging import-dependent industries.
The move comes after authorities devalued the ruble by 36% in May in their struggle against a bloated trade deficit.
But a free-floating ruble could help secure a USD 3 billion international loan for the land-locked former Soviet state, Moody’s said.
It should also “enable
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