BELARUS NEWS AND ANALYSIS

DATE:

10/12/2007

Belarusian Banks Authorized to Buy and Sell Diamonds

By: Rachel Lieberman

Belarusian Banks have been authorized by the National Bank of Belarus (NBB) to buy and sell diamonds. The NBB announced that this step was taken in order to liberalize the domestic diamonds market.

Appraised diamonds can be bought for the Belarusian rubel and foreign currencies. Prices of diamonds may range from 90 to 130% of the NBB's selling price dependent on the state of domestic and international markets.

Source:

http://www.israelidiamond.co.il/english/News.aspx?boneID=918&objID=2892