What measures has Belarus taken to protect its currency in the wake of the Russia Crisis?

  • 30% tax on purchases of foreign currency and more than doubling of interest rates to over 50%.
  • Temporary ban on over-the-counter currency trades + increase in the level of compulsory foreign currency sales by exporters (from 30 to 50%).
  • These controls effectively limit the exchangeability of the currency and are aimed at limiting contagion from the Russia crisis.

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