BELARUS NEWS AND ANALYSIS

DATE:

23/03/2011

Belarus cbank to allow quick fx purchases by banks

MINSK, March 23 (Reuters) - Belarus' central bank will allow local banks to buy foreign currency without advance notice within days, central bank chairman Pyotr Prokopovich said on Wednesday.

"We will drop the reserve requirements for foreign currency purchases today or tomorrow," state news agency BelTA quoted him as saying.

The central bank this month ordered banks to reserve Belarussian roubles BYR= 30 days in advance in order to buy foreign currency, effectively halting the foreign exchange market. (Reporting by Andrei Makhovsky; Writing by Olzhas Auyezov, Editing by Douglas Busvine)

Source:

http://www.reuters.com/article/2011/03/23/belarus-cbank-idUSLDE72M0DS20110323


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