Belarus National Bank cancels restrictions on targeted foreign currency purchase

Belarus National Bank cancels restrictions on targeted foreign currency purchase

The National Bank of Belarus has canceled restrictions on the targeted purchase of foreign currency by legal entities and individual entrepreneurs.

The new scheme will enter into force in 30 days. 

Thus, residents of Belarus will be able to buy foreign currency as needed, determined by them independently. The terms of its use are no more established. However, for statistics purposes, large players of the foreign exchange market will still need to report the code indicating what the money will be spent on.

Earlier the procedure was much more complicated and went against the norms existing in the Eurasian Economic Union. 

The liberal approach of the National Bank will provide even greater freedom of entrepreneurial activity in Belarus.