The National Bank, as a currency regulating body, shall:

• fix the official rate of the Belarusian rouble to other foreign currencies;
• regulate circulation of currency values;
• establish the procedure of opening, maintaining, and mode of accounts in any banks and non-banking financial institutions;
• establish the procedure of carrying out currency transactions in the Belarusian roubles between the residents and non-residents;
• establish the rules of exchange trade in foreign currency;
• issues permissions (licenses) for carrying out currency transaction connected with capital flow, etc.

Any natural and juridical persons (residents and non-residents) may open their accounts with the banks of the Republic in the Belarusian roubles and any foreign currency which official exchange rate to the Belarusian rouble was fixed by the National Bank.

It is obligatorily that any foreign currency shall be sold by the resident juridical persons. The procedure and amount of sale, as well as the events of full or partial exemption from payment have been established by the Decree of the President of the Republic of Belarus “On Improvement of the Procedure of Obligatory Sale of any Foreign Currency”, and the Ordinance of the Board of the National Bank “On Approval of the Instruction in the Procedure of Obligatory Sale of any Currency Funds by the Belarusian Juridical Persons and Individual Entrepreneurs”.

The routine of currency transactions is more liberal rather for non-residents than for residents. Any settlements between the residents both in the Belarusian roubles and foreign currency shall be effected practically without any restrictions.
For settlement of accounts in the Belarusian roubles, non-residents are permitted to use any currency which official exchange rate to the Belarusian rouble was fixed by the National Bank. Any dealings in securities in the Belarusian roubles and foreign currency between non-residents shall be made in the territory of Belarus without any restrictions, save as otherwise is provided for by the Belarusian legislative acts.

Import of any foreign currency, securities and payment documents in foreign currencies by any natural persons to Belarus shall be unrestricted, subject to compliance with all requirements of the customs legislation.

Contribution of any foreign currency and securities to the authorized capital of a resident juridical person shall me made by a non-resident without any additional permission issued by the National Bank. According to a general rule, all on-going currency transactions shall be carried out in accordance with established procedure without any restrictions. The rules of currency transactions related to flow of capital have been simplified for natural and juridical persons.

No restrictions exist as to the amount of purchase of any cash currency by any one natural person in any one exchange station per day, and as to the amount of transaction in the off-exchange money-market.

Subsequently, exchange rate policy of the government will also be directed toward protection and assurance of stability of the Belarusian rouble, in particular, its purchasing power and the rate of exchange to any foreign currency. Improvement of currency regulation through converging and unification of money-market conditions with the Russian Federation will be continued.