Belarus will allow its currency to trade freely from mid-September, The Wall Street Journal reports. The exchange rate of the Belarussian ruble, which the country seeks to defend from speculators, will be determined by supply and demand. In May, the Eastern European country devalued the ruble by 36%, leading to a deficit in the current account and drained reserves. The currency’s official exchange rate was 5,096 rubles to the dollar, but a black-market rate of 9,000 rubles has emerged owing to a lack of dollars and rubles.
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