Sale of cash foreign currency won't be limited in Belarus - national bank
MINSK. Aug 31 (Interfax) - The Belarus National Bank will not limit the sale of cash currency to citizens, provided they produce their passports, National Bank head Nadezhda Yermakova told Interfax on Wednesday.
"No curbs will be introduced on the market of cash foreign currency, which will be sold depending on the concrete currency exchange outlet's reserves," she said.
Yermakova was commenting on the National Bank's position on the situation on the cash foreign currency market after an additional trading session is introduced on the currency exchange in mid-September, where foreign currency will be sold based on demand and supply.
The availability of foreign currency at exchange outlets will depend on commercial banks' readiness to meet citizens' demand on market terms. "Foreign currency will appear in exchange outlets immediately after banks decide to buy it at a market price in an additional trading. If they buy, they will have to sell at a corresponding exchange rate. Citizens will probably make up their minds not to buy cash foreign currency at such a price. All this will be within the competence of commercial banks, which will work with foreign currency on market terms," Yermakova said.
Pending the start of the additional trading, some banks will continue selling foreign currency to citizens for the so-called "social needs" at an exchange rate that cannot be higher than the official by more than 2%, she said.