By Paul Abelsky
Belarus’s central bank said it has no plans for a “sharp” currency devaluation, according to a statement on its website today.
The regulator pledged to maintain its present currency management regime throughout this year, ensuring “gradual moves and predictability” of the Belarusian ruble, the Natsionalnyi Bank Respubliki Belarus said in the capital Minsk. The bank has sufficient resources to do so, it said.
The currency will be allowed to fluctuate within 8 percent of 1,057.04 rubles, the value of its target basket at the start of the year, the bank said. The basket is divided equally into dollars, euros and Russian rubles.
The central bank devalued its currency by about a fifth in January 2009.
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