20.10.2011
$64.4m in foreign currency traded at single trading session
MINSK, 20 October (BelTA) – The amount of foreign currency traded at the single trading session in Belarus is estimated at $64.4 million in the equivalent, BelTA learnt from the information service of the National Bank.
The initial demand amounted to $42.9 million in the equivalent, the supply stood at $66.1 million in the equivalent. The increase in the supply is attributed to the requirement to sell foreign currency at the single currency exchange.
From today on, the National Bank will apply a “controllable floating” strategy for the national currency. It means that the exchange rate will be determined by supply and demand with minimal interventions of the National Bank in case of sharp fluctuations of the exchange rate. These interventions can be made both in the foreign currency and the Belarusian rubles.
To reach the equilibrium, the entire demand and supply will be concentrated at the currency exchange. Currency exchange transactions involving individuals will not be restricted within the framework of the present legislation.
The initial demand amounted to $42.9 million in the equivalent, the supply stood at $66.1 million in the equivalent. The increase in the supply is attributed to the requirement to sell foreign currency at the single currency exchange.
From today on, the National Bank will apply a “controllable floating” strategy for the national currency. It means that the exchange rate will be determined by supply and demand with minimal interventions of the National Bank in case of sharp fluctuations of the exchange rate. These interventions can be made both in the foreign currency and the Belarusian rubles.
To reach the equilibrium, the entire demand and supply will be concentrated at the currency exchange. Currency exchange transactions involving individuals will not be restricted within the framework of the present legislation.