Belarus devalued its ruble by 55 percent against the dollar (at the official rate) and reintroduced limits on over-the-counter exchange rates. A currency exchange crisis has been developing in Belarus since the beginning of this year. Byelorussians were rushing to buy dollars and euros while the government was introducing special-purpose currency exchange restrictions designed to maintain the ruble exchange rate. The devaluation seems to mean that the attempt failed. Now Byelorussians are rushing to spend the rubles on goods as fast as possible.
http://lenta.ru/news/2011/05/23/nacbank/
http://www.businessweek.com/news/2011-05-24/belarus-devalues-ruble-36-against-dollar-sets-new-limits.html
http://www.vesti.ru/videos?vid=338515 (video)
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