In a calendar month, from 30 April to 29 may, the vast majority of currencies of the countries of the former USSR strengthened against the US dollar (as the data “Alpari Eurasia”) uses official exchange rates of respective Central banks on the specified dates). Plus there were seven currencies in the red only three. The growth leader became Kyrgyzstan som (+of 7.09%). He was followed by Kazakhstan tenge (+4,09%), Russian ruble (+3,64%), Moldovan LEU (+1,53%), Belarusian ruble (+0,93%), Georgian lari (+0,52%) and Ukrainian hryvnia (+0,24%). More of other currencies fell against the dollar to Armenian dram (-0,96%). He was followed by Tajik somoni (-0.25 per cent) and Uzbekistan sum (-0,09%).
According to senior analyst “Alpari Eurasia” Vadim Iosub, the dollar made it easier for regional currencies, down for the month. In may, the dollar index DXY fell from 99,0 98,0 p. to p. (-1.0 per cent). The currency pair EUR/USD (which means the weakening of the dollar) of 1.0950 with up to 1.1140 (+1.7 percent). Brent crude oil for the month rose from $27,0 $35, 3 per barrel (+30.7 percent). This contributed to strengthening of tenge, the Russian and the Belarusian ruble. In addition, the strengthening of most currencies was characterized by a partial recovery after the March collapse.
the International reserve assets of Belarus on may 1, 2020, according to preliminary data, amounted to $7,883 billion. In April the foreign exchange reserves of the country increased by 1.2% or $96,4 million after declining in March by 11.6% or $1018,4 million. A major factor in the growth of foreign exchange reserves in April was the purchase of foreign currency by the National Bank at the auction of JSC “Belarusian currency and stock exchange”. The increase in reserves contributed to the increase in the cost of monetary gold and the foreign currency in the budget, including from the sale by the Ministry of Finance on the domestic market of bonds denominated in iNOSforeign currency. In April, the government of Belarus and the national Bank has spent $317 million on the execution of external and internal obligations in foreign currency.
the national Bank of Belarus decided in may to support the economy, reducing the refinancing rate by 75 basis points in the background speeding up to 5.4% inflation. From may 20 of the year the refinancing rate was reduced from 8.75% to 8% per annum, the loan rate is the overnight call rate from 9.75% to 9% per annum, the rate on the overnight Deposit — from 7.75% to 7% per annum. A regular meeting of the monetary policy national Bank of Belarus is scheduled for August 12.
In may, the Verkhovna Rada of Ukraine has ruled out the possibility of the return of “Privat” oligarch Igor Kolomoisky. Law aimed at resolving the withdrawal from the market of insolvent banks that may 13 was adopted by 270 deputies with the required minimum of 226 votes. The law does not allow you to return these banks to their former owners. The adoption of this law is critically important to continue cooperation with the International monetary Fund and the world Bank, in which Ukraine badly needs.
At the end of 2016, the Ukrainian government nationalized the country’s largest private Bank, the main shareholder of which was Igor Kolomoisky. The Ministry of Finance became the owner of 100% of shares of “PrivatBank”. Government nationalized the Bank because of the elimination of his former leadership of large sums of under the pretext of loans to affiliated companies.
In the second half of may, the President of Turkmenistan Gurbanguly Berdimuhamedov ordered the company to transfer all foreign currency revenues obtained from exports in a stabilization Fund. Previously, 50% of foreign exchange earnings remain in the accounts of government departments and enterprises-exporters. This order applies to the export revenue of private enterprises. The President of Turkmenistan announcedastelloy the sale of foreign currency as a temporary measure. The sale will take place at the official rate of the manat to 3.5 to the dollar. On the black market, according to Reuters, the dollar rose to 21.7 manat.
In June, the weakening of the Armenian dram is allowed to continue, the dollar can rise to 489 AMD. In Kazakhstan, the dollar could fall to KZT 396. In Kyrgyzstan, the dollar may decline to 68.8 catfish. If oil prices continue continue to rise, going above $37 per barrel Brent crude, in early summer, the dollar could fall to 68.5 RUB This is the level that preceded the cancellation of the transaction by OPEC+ in early March.
