Belarus to axe euro from central bank currency basket - Breaking The News

Belarus to axe euro from central bank currency basket

8 December

1 min read

EPA-EFE/TOMS KALNINS

Belarus' National Bank (NBRB) announced on Thursday it will start removing the euro from the list of convertibility included in its currency basket from December 12 and increase the share of the Russian ruble in it.

According to the bank's press statement, the NBRB's foreign currency basket will consist of 60% in the Russian ruble, 30% in the United States dollar, and 10% in the Chinese yuan.

The bank added that, due to this change, the foreign exchange (forex) market in Belarus will undergo certain changes, as there will be a rise in the volume of transactions with the Russian ruble and a decline in that with the euro.

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