Belarusian ruble falls off a cliff ... Good thing a number of my former students put some of their savings in gold! http://ift.tt/1AQJpj8
— L (@duediligenceguy) December 22, 2014 Belarus Closes Currency Exchanges To Shield Against Crisis -- RT
The National Bank of Belarus is closing all over-the-counter currency exchanges in the country in an effort to keep its own currency strong and avoid a domino effect from the ruble crisis.
The purchase and sale of foreign currency at bureau d’change will be put on hold until 2017, except for transactions with the National Bank, the regulator said in a statement Monday. At the same time the purchase of foreign currency through the Belarusian Currency and Stock Exchange from the National Bank will be unlimited.
Read more ....
More News On The Collapse Of The Belarusian Ruble
Belarus blocks online sites and closes shops to stem currency panic -- The Guardian
Belarus blocks websites, closes stores to stem currency panic after rouble slide -- AFP
Belarus In Full-Blown Hyperinflation Panic: Blocks News, Online Stores; Bans All FX Trading For 2 Years -- Zero Hedge
Independent Belarusian News Websites Blocked -- Radio Free Europe
Belarus Has Shut Off Part of the Internet -- Vocativ
Belarus imposes mass IP-blocks to prevent panic -- IT ProPortal
Belarusian independent news sites blocked -- AP
My Comment: It is now a complete disaster in Belarus .... hyperinflation fears are now widespread. Just finished talking with a friend who lives in Minsk .... there is nothing in the stores .... nothing ... everything has been bought out. For those who are not familiar with Belarus .... it has always been an economic basket-case .... but Russia's currency crash was the "straw that broke the camel's back". Not surprising .... this is the number one news story in neighboring Russia .... everyone in Russia is now afraid that they are next. I personally doubt it .... Russia is a different story .... but the fear is there and it is very real.
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