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Individuals said to have bought nearly $2.4 billion more foreign exchange than they sold in 2013

Individuals’ purchases of foreign exchange (including cash and non-cash currency) from banks in 2013 exceeded sales by $2,380 million, reported the National Bank of Belarus (NBB), BelaPAN said.

According to the NBB, individuals’ purchases of foreign exchange from banks last year totaled $10,676 million, while sales amounted to $8,296 million.

In December, individuals bought $1,225.4 million, up from $920 million the previous month, and sold $750.1 million, up from $682.9 million.

Belarusians started buying more foreign exchange than they sell in June last year.

In particular, purchases of foreign exchange exceeded sales by $265 million in June, by $621.6 million in July, by $167.7 million in August, by $331.9 million in September, by $379.5 in October and by $237.1 million in November.

Experts linked the increase in Belarusians’ foreign exchange purchases this past fall to a rise in devaluation expectations amid the weakening of the Belarusian rubel.

Speaking to reporters last October, Alyaksandr Lukashenka attacked Belarusians for buying foreign cash.

According to the Belarusian leader, "it is not that easy to earn this foreign currency." "And we need much of it to pay for oil and gas," he said.

Mr. Lukashenka repeated his warning that the Belarusian rubel would be devalued again if the public continued buying foreign cash on a large scale.