fixed exchange rates
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The mechanism of adjustment to changes in exchange rate in Belarus and its implications for monetary policy
Knowing the fair value of the Belarusian ruble is one of the most vital issues for economic agents in 2011. In the second half of 2010 an aggressive expansionary policy led to significant macroeconomic fluctuations. Since then, the pressure for the currency market has been progressing.
BEROC. Belarusian economic research and outreach center