18 Sep 2013 17:17

NBB says redenomination possible, but not mandatory in 2014

MINSK. Sept 18 (Interfax) - The National Bank of Belarus reckons redenomination of the Belarusian ruble is possible, but is not sure it will take place in 2014.

"We are already seeing that redenomination is needed. But we still need to determine when it will happen," NBB Chairman Nadezhda Yermakova said during an online conference Wednesday.

"We thought before that inflation would go down and that next year would be the time when we could start redenomination. But, unfortunately, other factors on the currency market are holding us back for now, so I cannot promise a mandatory redenomination in 2014," she said.

"We will look at and look for options. Specialists will determine when the best time is," she added.