Dollar Plunges to Two-Year Low in Belarus

The Belarusian ruble strengthened against the US dollar on May 12, 2025, reaching a two-year low. The exchange rate dropped more than two kopecks, settling below 3 rubles per dollar. This development is significant, as it reflects changes in the Belarusian economy and its relationship with the global market. Banks are currently buying dollars from citizens at a lower rate (approximately 2.96 rubles), while exchange bureaus offer a higher rate (above 3 rubles). Financial analyst Alexander Shkut commented, "The potential for further strengthening of the ruble has been exhausted, and in the near future, the US dollar exchange rate is likely to remain around current levels, although a weakening is more probable."