OREANDA-NEWS On 06 October was announced, that the National Bank of Belarus (NBB) plans to narrow the exchange rate band of the Belarusian ruble around the basket of three currencies, the dollar, euro and Russian ruble, to 5% from 10% currently. This information said NBB Governor Petr Prokopovich during presentation of draft monetary guidelines for 2010.

“The basic monetary guidelines or 2010 aim at performing two tasks: to facilitate meeting socioeconomic development targets and stable performance of the financial system,” Prokopovich said.

Economic growth will be ensured by the stability of the national currency. Banks’ claims on the national economy are expected to increase 29%-34% in 2010, under the draft monetary guidelines.

“The stability of the banking and financial system will be achieved through the stability of the national currency, more rigid bank supervision requirements, increase in reserve requirements, creation of an “airbag” for the banking system, increase in the resource base of banks by approximately a third, and general development of the banking system,” Prokopovich said.