The Eurasian Economic Union for Development (EAFR) presented a forecast for the average annual exchange rate of the Belarusian ruble per dollar in its autumn edition of "Regional Economic Review": in 2027 it is expected to be at a level of 3.2 rubles per dollar, in 2026 – 2.9 rubles, and in 2028–2029 – 3.5 and 3.7 rubles respectively. This is reported in a document published on the fund's official website.

Such data is presented in the EAFR Regional Economic Review (Autumn 2026, No. 3).

The Autumn EAFR Review is a quarterly publication in which the fund's analysts traditionally present macroeconomic forecasts for regional countries.

In particular, the document includes a table with average annual exchange rates of national currencies per dollar: for Belarus the values show dynamics – 3.1 rubles in 2025, 2.9 in 2026, 3.2 in 2027, 3.5 in 2028, and 3.7 in 2029.

Thus, the forecast assumes a moderate weakening of the Belarusian ruble after a relatively stable 2026.

In the first half of 2026, according to the EAFR experts' assessment, the internal currency market of Belarus was characterized by the preservation of net currency supply and relatively stable national currency rate.

On October 18, the official rate of the National Bank was fixed at a level of 3 Belarusian rubles per dollar.

Since the beginning of the year, the ruble has weakened relative to the basket of foreign currencies (the Russian ruble, dollar, and yuan) by 0.29%, while the dollar appreciated by 3.69%, the yuan by 8.8%, and the Russian ruble depreciated by 2.75%.

The EAFR forecast emerged amid discussions about the prospects for the Belarusian economy: previously, the fund's analysts estimated Belarus's GDP growth in 2027 at 1.2%, and inflation at the end of 2026 at 5.2%.

Official forecasts from the National Bank and the government for 2027 have not yet been fully published, however, in September the regulator noted that it does not expect sharp fluctuations in currency rates in the following year.

In this way, EAFR lays out in the base scenario a gradual weakening of the Belarusian ruble per dollar in the medium term – from 2.9 rubles in 2026 to 3.7 rubles by 2029, which corresponds to the overall trend against the background of inflation differentials and external-economic conditions.