The National Bank of Belarus is changing the composition of the basket of foreign currencies from December 12, 2022. The euro will be excluded from it. The regulator noted in his message that in 2022 “there is a steady trend towards an increase in the volume of foreign trade of the Republic of Belarus with the EAEU countries, primarily the Russian Federation, as well as the People’s Republic of China. At the same time, there is an expansion of the use of national currencies of trading partners in the implementation of foreign economic payments. At the same time, against the background of a reduction in trade with the countries of the European Union, settlements in euros have decreased.”
The National Bank draws attention to the fact that under these conditions, the structure of trading operations at the Belarusian Currency and Stock Exchange OJSC has changed: there has been an increase in the volume of transactions with the Russian ruble and their share in the total volume of exchange trading, while reducing the volume and share of transactions with the euro.
Therefore, the Board of the National Bank of the Republic of Belarus decided to exclude the euro from December 12, 2022 from the list of currencies included in the basket of foreign currencies, and setting currency weights when calculating the value of the basket at the following levels:
- for the Russian ruble – 60%,
- US dollar – 30%,
- Chinese yuan – 10%.
At the same time, trading in euros at the Belarusian Currency and Stock Exchange OJSC will continue, and the official exchange rate of the Belarusian ruble against the euro will be set based on information on the cross-rate of the euro against the US dollar in international financial markets.
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