BELARUS NEWS AND ANALYSIS

DATE:

30/03/2011

Belarus allows 10% Currency Devaluation

Belarus has allowed its currency to devalue by 10%, The Wall Street Journal reports. The National Bank of Belarus has permitted banks to buy and sell foreign currency at an exchange rate deviating by no more than 10% of the official rate. The move will be applicable only to the interbank market and not to retail exchanges. The regulator had previously suggested banks to stay within 2% of official rates. Belarus has lost 20% of its foreign currency reserves in 2011. Outstanding issues: 44 issue(s) outstanding worth BYR 1 992 900 900 000 2 issue(s) outstanding worth USD 1 800 000 000 1 issue(s) outstanding worth RUR 7 000 000 000

Source:

http://www.cbonds.info/em/eng/news/index.phtml/params/id/492963


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