Chaly: Our country has two or three exchange rates for different currencies

Chaly: "We do not only have a few exchange rates for the dollar. We have as many as three official exchange rates for some other currencies except the Russian ruble, euro and dollar. We have a full-fledged multiple exchange rates system. If the National Bank does not want to change the rate so that it would match the market exchange rate, the lower rate will be preserved for special importers while the others will search for currency in the interbank market that differs from the exchange market but will be made official later”.

For example, the official zloty exchange rate is about 1000 rubles; however, it was sold for 1400 rubles at the exchange market on April 1. According to the economist, the situation may be observed for quite a long time. However, the system is inconvenient and creates problems for the economy.

What the situation may lead to? Chaly notes that we are in for another increase of foreign products’ prices.

Chaly: "Imported goods may become even more expensive due to this system. Foreign currency has to be bought even if it is impossible to use the official exchange rate – it will be bought at a higher price”.

So, inhabitants of our country have to add holes to their belts. And to tighten them.