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10.10.2011

ID for forex purchases in Belarus as from 8 November

MINSK, 10 October (BelTA) – Starting from 8 November Belarusian citizens will need any identification document: a passport, a residence permit or a refugee certificate to purchase foreign currency in the exchanges and banks of the Republic of Belarus, according to Decree No. 449 “On several issues regarding foreign currency transactions for individuals” published in the Sovetskaya Belorussiya newspaper on 8 October.

The decree signed by President of Belarus Alexander Lukashenko on 6 October takes effect a month after its official publication.

The decree was adopted as part of the measures taken by the government and the National Bank to reach the single currency exchange rate of the Belarusian ruble.

The document introduces registration of passport details of the individuals acquiring foreign currency in the exchanges and banks.

This method is used in many countries including Belarus’ neighbors.

The registration of the personal data will help set up the unified interbank record keeping for foreign currency purchase.