Belarus's central bank has cut the rate of mandatory sales of foreign currency income for companies to 30 percent from 40 percent, according to an official statement posted online on Tuesday. The central bank introduced obligatory foreign currency sales last October to protect the Belarussian rouble from economic turmoil in neighbouring Russia that was prompted by sliding oil prices and Western economic sanctions.
It has since eased the restrictions and the latest cut follows a similar move in late February, although the bank has said the national currency, down 25 percent since the start of the year, will remain under pressure in 2015.
In March, the International Monetary Fund said Belarus would have to allow a flexible currency rate to receive the new financing package it has asked for.
The Belarussian government forecasts the economy shrinking 0.2-0.5 percent this year, after growth of 1.6 percent in 2014.
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