From 1 March, Belarus changes rules for conducting currency transactions


From 1 March, Belarus is changing the rules for conducting currency transactions. The innovation is aimed at liberalizing currency relations, expanding the use of the national currency in transactions between Belarusian business entities. Legal entities will be able to conduct foreign exchange transactions without the permission of the National Bank, individuals will be able to open accounts in foreign banks, and make transactions to transfer funds to them. The decree provides for measures aimed at expanding the use of the national currency in settlements between Belarusian residents. In parallel, the settles in foreign currency will be reduced.