November 30, 2017 / 3:09 PM / a year ago

Belarus central bank raises foreign currency reserve requirements

MINSK, Nov 30 (Reuters) - The Belarussian central bank will raise the minimum foreign currency reserve requirement for banks to 17 percent from 15 percent from January 1, it said on Thursday.

The move aims to make rouble transactions more attractive and reduce the still-high use of the dollar, the bank said in a statement.

Belarus is emerging from a 2015-2016 recession that was spurred by an economic crisis in neighbouring Russia - with which its own economy is closely linked - following a slump in global oil prices.

With inflation easing, the central bank is seeking to reduce the dollarisation of the economy both by lowering the reserve requirements for roubles and raising them for foreign exchange. (Reporting by Andrei Makhovsky; writing by Matthias Williams; editing by Gareth Jones)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below