Banks sell only foreign currency they buy from customers

Minsk currency exchange offices sell only dollars and Russia rubles they purchase from people.

RIA Novosti learnt it from representatives of commercial banks.

The Belarusian authorities took a number of administrative measure to calm panic buying of foreign currency by individuals at the end of last year. In particular, a 30% duty on the purchase of foreign currency was imposed on individuals. The duty was later cut three times and reduced to zero on January 8. The National Bank reports that it ordered foreign cash from its foreign partners to fill exchange offices.

Commercial banks were recommended to return to a 2% exchange rate corridor. As of January 10, the official rate is 14,060 Belarusian rubles a dollar and Br16,570 a euro. The maximum buying rate is 14,250 rubles a dollar, the minimum one is 13,485 rubles a dollar.

Correspondents of the new agency, who visited a dozen of exchange offices in the centre of Minsk and on the outskirts, say that they sell only small sums of dollars (from 100 to 500) and Russian rubles they earlier bought from people. None of the visited exchange offices had euros. It's easier to find foreign cash in exchange offices in shopping centres.

The National Bank says individuals turned from a net buyer of foreign currency into a net seller during the New Year's vacation: according to the official data, people sold a dollar equivalent of 35.4 million on a net basis (including 23.6 million in cash).