Friday, December 19, 2014

Belarus shock raises key interest rate – Swedish newspaper Svenska Dagbladet

Belarus shock raises key interest rate – Swedish newspaper Svenska Dagbladet

The central bank also introduces a requirement that companies sell at least half of the profits made in foreign currencies at the Belarusian market. Earlier this low level of 30 percent.

Alexander Lukashenko, President of Belarus, is facing the bank’s actions demanded that all business with Russia must be made in US dollars or Euros.

– We will not run after Russia and let the Belarusian ruble devaluation. It is absolutely out of the question, because that is not going to say what is going on in the Russian market and what will happen there, he says, according to the Belarusian news agency BelTA.

The Belarusian ruble has since year-end lift 290-163 per Russian ruble.

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