Support The Moscow Times!

Belarus Eases Currency Rules

MINSK — Belarussian state news agency BelTA quoted Central Bank Chairman Pyotr Prokopovich on Wednesday as saying banks would no longer have to reserve Belarussian rubles 30 days in advance to buy foreign currency.

That requirement was put in place earlier this month. "We will drop the reserve requirements … today or tomorrow," Prokopovich said, without explaining the reasons for the reversal. Central Bank sales of foreign currency in cash remain suspended.

Belarussian Finance Minister Andrei Kharkovets held talks Tuesday in Moscow with his counterpart Alexei Kudrin. "The two sides reached agreement on the course of further work to provide the Republic of Belarus with credit resources," the Russian Finance Ministry said. Belarus is seeking a $1.7 billion loan from a Russia-led bailout fund set up by a group of former Soviet states.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.