The National Bank of Belarus is expanding the fluctuation corridor for the cost of the currency basket to plus/minus 12%

May 6, Minsk /BELTA/. The National Bank of Belarus will expand the fluctuation corridor for the value of the basket of foreign currencies from plus/minus 8% to plus/minus 12% starting May 12, the Information Department of the National Bank of Belarus told BELTA. "The permissible limits for fluctuations in the value of the basket of foreign currencies in 2011 will be increased from May 12 from plus/minus 8% to plus/minus 12%," the National Bank's statement says. The corresponding decision is enshrined in Resolution of the Board of the National Bank of May 5, 2011, No. 168. The National Bank explained that this decision was made as part of the gradual convergence of the exchange rate of the Belarusian ruble in various segments of the foreign exchange market and is aimed at expanding the National Bank's capabilities to respond to fluctuations in the cross rates of foreign currencies included in the basket, as well as at increasing the flexibility of exchange rate policy in general. -0-