BELARUS NEWS AND ANALYSIS

DATE:

29/12/2006

Belarus bank denies plans of rouble re-denomination

MINSK, December 29 (Itar-Tass) - The Belarussian National Bank has dismissed rumours about the forthcoming re-denomination of the Belarussian rouble.

"The re-denomination of the Belarussian rouble is not planned in 2007," the bank's information department said in a statement released on Friday.

It also said that "maximum possible efforts will be taken for the fulfilment of all main directions of the money and credit policy of the Republic of Belarus for 2007".

In particular, devaluation of the Belarussian rouble's official rate to the US dollar is to be kept within 2.5 percent as of January 1, 2008.

"The National Bank is going to further conduct the policy of strengthening the national currency. Attractive conditions for keeping deposits in Belarussian roubles will be created both in this and in the coming years," the information department said.

"The level of interest rates on deposits denominated in the national currency will be above both the inflation rate and yield on savings in a freely convertible currency as before," the bank said.

Source:

http://www.itar-tass.com/eng/level2.html?NewsID=11126543&PageNum=0

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