Demand for foreign currency exceeded supply by $157.2 million in March, according to statistics from the National Bank of Belarus. One of the reasons was record demand from Belarusian companies. The last time demand for foreign currency exceeded supply was in June last year.
Foreign exchange market turnover in March amounted to $13.03 billion, which was 19.7% more than in the same period last year. Market turnover in March was the highest since December 2025.
Individuals bought $1.23 billion worth of foreign currency in March, the highest figure this year. The volume of foreign currency sold was also a record at $1.4 billion. As a result, individuals provided a net supply of $174.5 million.
Banks bought $6.99 billion worth of foreign currency last month and sold almost $7 billion, providing a net supply of $11.4 million.
Non-residents bought $321.5 million worth of foreign currency in March and sold $419 million. They were net sellers to the tune of $97.5 million.
Resident business entities bought $4.07 billion worth of foreign currency in March and sold only $3.63 billion. As a result, they were net buyers of $440.6 million.
It should be noted that the National Bank recorded a decline in foreign currency reserves following the results of March.
Foreign exchange market turnover in the first quarter amounted to $34.38 billion, which was 22.6% more than in the same period last year. Despite the March results, the balance on the market over the three months was in favour of supply. Supply exceeded demand by $70.38 million.
Individuals bought $3.17 billion worth of foreign currency in January-March and sold $3.59 billion. They provided a net supply of $414.6 million.
Banks bought $18.4 billion worth of foreign currency in the first quarter and sold $18.33 billion, generating net demand of $91.3 million.
Non-residents bought $729.7 million worth of foreign currency over the three months and sold $1.03 billion, acting as net sellers of $303.4 million.
Resident entities bought $10.58 billion worth of foreign currency over the same period and sold only $10.03 billion. Net demand from them amounted to $556.4 million.
