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20 Sep 2017

Belarus relaxes foreign exchange surrender regulations for exporters

MINSK, 20 September (BelTA) - The amount of foreign currency that must be surrendered by Belarusian exporters on the official foreign exchange market will be reduced from 20% to 10% on 1 October 2017, BelTA learned from the information and public relations department of the National Bank of Belarus.

The corresponding decision is envisaged in Resolution No.368-1 adopted by the Board of the National Bank on 6 September 2017 to amend Resolution No.129 of the Board of the National Bank of the Republic of Belarus of 13 September 2006.

The National Bank has adopted this decision as apart of the the policy to liberalize currency relations, and in the light of the stable situation in the foreign exchange market which has been characterized by the consistent excess of foreign exchange supply over demand for it.

This measure will contribute towards the development of export potential of Belarusian economic entities and will become a consistent step towards harmonization of monetary legislation in the Eurasian Economic Union.

 

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