MP: Belarus heavily dependent on world oil prices

On August 24, within a few hours of trading on the stock exange, rate of the dollar rose to 17,601 rubles, the euro - up to 19,935. MP Valery Baradzenya told Euroradio that in his view today's events are caused by the situation on the eastern markets and low prices oil.

"The world oil prices are falling, said Mr Baradzenya. This leads to the depreciation of the Russian ruble. And then to the fall of the Belarusian one. It is a unique situation - Belarus has virtually no natural resources of its own and is heavily dependent on their prices. In addition, there is now a devaluation of the Kazakh currency and a tricky situation in the Chinese stock market."

In his opinion, it is not easy to predict further developments in the Belarusian stock exchange, but they  will depend on what happens to world oil prices and exchange rate of the Russian currency.

Photo: Fotolia