New foreign currency exchange procedures in Belarus as from 14 September

MINSK, 9 September (BelTA) – New procedures to exchange foreign currency will be in effect in Belarus as from 14 September, representatives of the Information Office of the National Bank of the Republic of Belarus (NBRB) told BelTA.

Following NBRB resolution No. 368 of 7 September 2011 the main trading session of the Belarusian Currency and Stock Exchange will be used by banks to sell foreign currency, which is subject to mandatory sale, and to sell other foreign currency. The main trading session will be used by banks to buy foreign currency to pay for medications, medical products (if approved by the Healthcare Ministry), to pay for the natural gas and electricity Belarus imports.

Following NBRB resolution No. 367 of 7 September 2011 results of the main trading session at the Belarusian Currency and Stock Exchange will be used to set the official exchange rate of the Belarusian ruble against foreign currencies.

The Belarusian Currency and Stock Exchange will arrange an additional trading session to allow banks to sell foreign currency (except for foreign currency, which is subject to mandatory sale) and to buy foreign currency at their own expenses, on behalf of subjects of currency operations, on behalf of non-resident banks.

The exchange rate of the Belarusian ruble for the additional trading session will be determined taking into account the supply of and demand for foreign currency. Changes and addenda to foreign currency trading regulations of the Belarusian Currency and Stock Exchange are available at www.bcse.by.