Banks' asset quality and capital adequacy are also likely to worsen, with the economic slowdown and recent sharp depreciation of the Belarusian ruble
having negatively affected the ability of many corporate borrowers to service their loans.
The EEU countries could switch to national currencies (ruble, Belarusian ruble
, Kazakhstani tenge and Armenian dram) in mutual payments by 2025-2030, the chairman of the board of directors of Russia's National Payment Council, Alexander Murychev told the newspaper.
As a result of the weakness required to regain export competitiveness we have revised our forecasts for the Belarusian ruble
, from averaging BYR9,970/US$ and BYR10,550/US$ in 2014 and 2015 previously, to BYR10,500/US$ in 2014 and BYR11,800/ US$ in 2015.
0% y-o-y by end-2014 on the back of continued depreciation of the Belarusian ruble
, exacerbated by a negative trade balance.
The Belarusian ruble
suffered a three-fold devaluation in 2011, thus likely reducing PPP estimates.
A year ago, before the Russian economic collapse and the steep devaluation of the Belarusian ruble
, he was making three times as much.
the price of the goods in Belarusian rubles
, Russian rubles or euros;