Dollar surges once more before the weekend approaches.
June 2022 Exchange Rates Paint an Unfavorable Picture for the Belarusian Ruble
The Belarusian currency market took a hit on June 20, with the Belarusian ruble losing ground against most major currencies.
Here's a lowdown on the rates:
- Russian Ruble: The Russian ruble saw a slight fall of 0.17%, but it's still a decent trade as you'll score BYN 3.7750 for ₽100.
- U.S. Dollar: The greenback continued its winning streak, increasing by 0.06%. Now, a dollar fetches BYN 2.9781 in Belarus.
- Chinese Yuan: The yuan nudged ahead by 0.21%, and you'll need BYN 4.1327 for ¥10.
- Euro: The common currency also saw a 0.21% rise, making it BYN 3.4200.
Understanding Currency Exchange Rates
The National Bank determines the currency rates for the subsequent day based on the weighted average rate established on the exchange. As of January 1, 2022, the official rates come into effect on the next working day, not the next calendar day, and stay valid until new rates are published.
So, the rates established during the June 20 trading sessions apply to Friday, Saturday, and Sunday, and the rates determined on Friday apply to Monday.
Then and Now
To understand the recent exchange rates against major currencies, let's take a look at historical data. As of June 20, 2022, the exchange rate for the Belarusian Ruble was approximately BYN 2.53 per USD. Compare that to the rate in June 2025, which was around BYN 3.27 per USD. This reflects a significant devaluation of the BYN against the USD over the past three years.
Against the Euro, the rate at the end of 2024 was BYN 3.40 per EUR, but by early 2025, it was around BYN 3.54 per EUR. This indicates a slight increase in the number of BYN required per EUR, suggesting a slight depreciation of the Belarusian currency.
Data for other currencies like the Chinese Yuan, Japanese Yen, or British Pound on June 20, 2022, is not readily available. However, the trend of depreciation against major currencies like the USD and EUR is a reflection of broader economic trends.
In essence, the Belarusian Ruble has depreciated significantly against both the USD and EUR since June 2022, mirroring broader economic challenges and currency fluctuations.
The Belarusian Ruble's depreciation against major currencies is a concern not only for individual traders but also for industries that rely on finance, such as banking and insurance, as they may face increased costs in transactions and investments. This trend, which has persisted since June 2022, points towards broader economic challenges that the nation may need to address.
The apparent depreciation of the Belarusian Ruble against the USD and EUR might affect financial institutions' risk management strategies, necessitating improvements in hedging and forecasting capabilities to maintain profitability. This situation underscores the importance of monitoring currency exchange rates, particularly in times of instability.
