Belarus to change currency exchange rules from October 26
In the summer, the Belarusian National Bank issued a resolution number 214.
According to the document, new instructions on the procedure for currency exchange will be in effect in our country.
The contents of the resolution can be found on the National Legal Internet Portal.
What will be new in the rules of currency exchange
Exchangers will be allowed not to buy currencies that are in low demand.
We are talking about monetary units, the exchange rate of which is set only once a month.
There are several dozen such currencies. Examples: Azerbaijani manat, Georgian lari, Indian rupee, Mexican peso, Mongolian tugrik and others.
In addition, new requirements for information on exchange rates will be in effect. Thus, banks will have to display exchange rates on special electronic boards. However, many credit and financial organizations are already doing this.
True, there is one more important requirement: the rates indicated on the board must correspond to the information on the stands.
And the summer resolution of the National Bank also specifies how currency exchange should be carried out in banking applications. Thus, a credit and financial institution should not charge a commission for currency exchange transactions.
In addition, the rate indicated in the application must be unambiguous. If such information is missing or if it is not correct, the client will have the right to demand that the transaction be cancelled or that part of the funds that should not have been written off be returned.
The updated currency exchange rules will come into effect when 3 months have passed since the official publication of the resolution. In other words, we are talking about the following date: October 26.
