Why did foreign currency appear and those who wanted to buy it disappeared?
Big currency sellers and buyers do not participate in trading sessions of the exchange house.
Euroradio has noticed that there is a decrease of quantity of people who wanted to buy foreign currency for the last half a year, when no currency was available. On March 15, the scope of bargains at the currency stock exchange made 47,5 million dollars, while on September 23 they sold nearly two times less — 24,5 million.
“You need to understand: this is market and it is as it is no matter whether we like it or not. The biggest sellers and buyers are most likely not to file applications to the currency stock exchange, but to watch the situation", — financial analyst of "Alpary's" official partner in Minsk Vadzim Iosub has told to Euroradio.
Probably, the participants of the stock exchange wait till the tax for difference between the rate at the additional session and the official rate will be abolished. Chairperson of the National Bank Nadzeya Yermakova has made such a promise.
At the same time, the expert notes that although the scope of bargains decreased in comparison with the previous years, but not essentially. Moreover, the trading scope is slowly increasing and soon we'll see the sums we are used to at the currency stock exchange.
Vadzim Iosub: “I think that we will soon reach normal scopes for our currency exchange stock”.
Alongside with that, the analyst thinks that the trading sessions at the exchange stock may be considered only "conditionally free". The point is, the scope of rate change is established by the stock (which means, the National Bank in fact), and it is not always objective.
Vadzim Iosub: “In one case, when offer surpasses demand it leads to decrease of the rate by 10 roubles, in another case the same surpass leads to decrease of the rate by 460 roubles. I am speaking about the fact that the National Bank establishes the decrease in a rather free way, sometimes even in an administrative way I should say”.
There is also another version of why the scope of bargain is not as high as it is desired. Allegedly, not all enterprises are allowed to take part in the trading sessions, in order to decrease the scope of bargains. It is easier to control the rate in such case. However, representatives of Absolutbank assured Euroradio that everyone might take part in the trading session if they wanted to.
Absolutbank's employee: “There are clients who want to buy currency cheap. The rate at the trading sessions reaches the level which they indicated in their application, and we do not bring such application to the trading session. This is the decision of the client himself; he made such a choice for his business. There are no phone calls or recommendations in this regard”.
Euroradio has addressed to the Belarusian currency exchange stock in order to find out whether it is possible to define the real rate with such scope of currency bargains. Euroradio's correspondent has been suggested to make his own conclusions.
Belarusian currency exchange stock: “How are we supposed to comment why the scope became bigger or smaller? We do not provide such comments. We do not conduct any analysis. It is important for us to organize trading sessions, equal access of all participants and equal opportunities for everyone”.
Photo: by.media
