Belarus abolishes mandatory forex sale

5 August, 2018 12:00 AM printer

MINSK: Belarusian enterprises are no longer required to sell their foreign exchange earnings, local media reported.

The new rule, aimed at liberating foreign currency markets and stimulating business activity, came into force this week under a presidential decree.

Belarusian exporters had to sell part of their foreign exchange earnings to ensure a guaranteed foreign exchange offer. The maximum standard was 50 percent. In previous years, the amount of mandatory foreign currency sales in the country was consistently reduced, reports Xinhua.