June 30, 2017 / 11:38 AM / 23 days ago

Belarus to cut FX sales by companies to 10 pct of revenue from Oct 1

1 Min Read

MINSK, June 30 (Reuters) - Belarus plans to reduce mandatory sales of foreign currency by companies to 10 percent from 20 percent, effective from Oct. 1, Belarus's Deputy Central Bank Governor Sergei Kalechits told Reuters on Friday.

The central bank earlier said it planned to scrap mandatory sales of hard currency by exporters altogether in 2018, but gave no time frame for reducing these sales step by step.

Last autumn the central bank reduced the share of mandatory foreign currency sales by 10 percentage points to 20 percent.

Reporting by Andrey Makhovsky; Writing by Dmitry Solovyov; Editing by Jack Stubbs

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