The National Bank has lifted restrictions on banks setting exchange rates for currency purchase and sale transactions with the public

May 11, Minsk /Corr. BELTA/. The National Bank of Belarus has lifted the recommended restrictions on banks' exchange rates for buying and selling foreign currency with the public, BELTA was informed by the National Bank's Information Department. "As part of the plan to gradually move to a single exchange rate for the Belarusian ruble and stabilize the situation on the domestic foreign exchange market, the National Bank has lifted the recommended restrictions on banks' exchange rates for buying and selling foreign currency with the public as of May 11," the National Bank reported. A shortage of foreign currency in this market segment emerged in March of this year due to increased public demand for cash foreign currency to purchase vehicles abroad, as well as due to the spread of various rumors provoking panic behavior among the population. "The use of market approaches to forming the exchange rate of the Belarusian ruble in transactions with individuals will not only satisfy citizens' demand for foreign currency but also make pointless further active acquisition of foreign currency by the public for savings, which has been observed recently in connection with expectations of changes in the exchange rate," the National Bank emphasized. -0-