Belarus Lets Ruble Float

Aug. 31, 2011

MINSK ?€” Belarussian President Alexander Lukashenko said Tuesday that the country would allow a free float of its currency sometime between Sept. 12 and 15.

The government devalued the ruble by some 50 percent this year, causing panic buying of staples and huge lines at foreign exchange offices.

Foreign currency has been hard to come by since March, boosting the black market where foreign cash can cost nearly twice as much as the official rate.

(AP)

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