Since the beginning of April alone, the Russian ruble has strengthened against the US dollar by 10%, the Chinese yuan by 7%, and the Indian rupee by 8%.
The longer the Belarusian ruble remains pegged to the Russian ruble against the background of the current strengthening of the Russian ruble against world currencies, the higher the losses of the Belarusian economy from exports to foreign markets, with the exception of the Russian one.
Belarusian products are becoming more expensive in most foreign markets due to the price factor. This is unlikely to suit the Government of the Republic of Belarus and the National Bank.
While maintaining such a course bundle, the question naturally arises about possible mechanisms for compensating for losses. The question remains as to who will compensate for them and how, if this trend continues.
It is clear that both have sanctions, but for Belarus, increasing exports is a much higher priority today than for Russia, whose economy relies heavily on oil and gas. Unlike the Russian Federation, for the Republic of Belarus, focusing on imports as a way to compensate for restrictions is not a viable option.
