The rate of the tax on foreign currency purchases via the currency and stock exchange is reduced from 20% to 10% in Belarus as of 5 January.
The levy collected from foreign currency purchases will be reduced to 10% as from 6 January.
The steps taken by the government and the central bank are part of the set of measures meant to ‘normalise the situation in Belarus’ financial sector’, news agency BelTA reports. The simultaneous reduction of the tax on purchasing foreign currency via the currency and stock exchange and the reduction of the official exchange rate of the Belarusian rubel against the U.S. dollar are designed to bring the exchange rates in different segments of the national currency market closer. The National Bank expects that the move ‘will not result in an increase in the actual exchange rate’ used to sell foreign currency to individuals and corporations.
Meanwhile, the Belarusian rubel has declined against the U.S. dollar and the euro. The dollar has reached Blr 12,740 (Blr 840 up), euro – Blr 15,230 (Blr 770 up).
