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The National Bank of Belarus purchased nearly $500 million worth of foreign currency in April. This was stated on Belarusian television by First Deputy Chairman of the regulator’s board Aliaksandr Yahorau.
According to him, this spring saw the Russian rouble strengthen against the U.S. dollar and euro. Exporters sold more of their foreign currency earnings, resulting in an excess supply of foreign exchange.
“To ensure that this surplus did not lead to an undesirable strengthening of the Belarusian rouble, which would make it harder for our exporters to sell their products in foreign markets, the National Bank purchased the excess foreign currency and added it to reserves. In April 2026 alone, the National Bank bought nearly $500 million”, Yahorau said.
He noted that the National Bank purchases a significant share of the foreign currency sold by the public. It is then included in foreign exchange reserves.
During the programme, he also recalled 2020, when Belarus’ foreign exchange reserves declined by $2 billion. At that time, Belarus repaid around $4 billion in external debt. At the same time, $1.5 billion from reserves was sold to support the exchange rate of the national currency and prevent a sharp depreciation.