About the reduction in the size of the commission fee that is payable by households at a time of foreign currency purchase
The implementation of the package of measures taken by the Government and the National Bank on December 19, 2014 made it possible to prevent the development of negative trends in the financial sector of the Republic of Belarus from happening. Currently, bank operations designed to purchase and sale foreign currency by households are conducted in the normal mode, i.e. cash foreign currency is available in sufficient volumes to most exchange offices and desks of the banks. An inflow of households’ term deposits in the national currency is registered.
The decision to reduce to 20% the size of the commission fee that is payable by households at a time of foreign currency purchase was made taking into account the same reduction – beginning on December 29, 2014 – in the size of the tax on stock exchange operations designed to purchase foreign currency (Resolution of the Council of Ministers of the Republic of Belarus No. 1251 dated December 27, 2014) as well as the change in the official exchange rate of the Belarusian ruble against the U.S. dollar in the amount of about 7% resulting from the trading on the floor of JSC "Belarusian Currency and Stock Exchange" on December 29, 2014. The simultaneous implementation of the above measures will make it possible to increase the amount of monetary funds in Belarusian rubles received by exporting enterprises during the mandatory sale of foreign currency earnings on the floor of the stock exchange and will not lead to an increase in the actual exchange rate of foreign currency purchase by households and enterprises.
Further steps to reduce the commission fee that is payable by households at a time of foreign currency purchase will be taken as positive trends in the financial market get stronger.
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