RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of May 28, 2021 No. 141

About approval of the Instruction about procedure for carrying out currency exchange transactions

Based on Article part one 39, parts two of article 277 of the Bank code of the Republic of Belarus, subitems 2. 3, 2.9 Items 2 of article 6 of the Law of the Republic of Belarus of July 22, 2003 No. 226-Z "About currency control and currency exchange control" DECIDES: Board of National Bank of the Republic of Belarus

1. Approve the Instruction about procedure for carrying out currency exchange transactions it (is applied).

2. This resolution becomes effective since July 9, 2021.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of May 28, 2021 No. 141

The instruction about procedure for carrying out currency exchange transactions

Chapter 1. General provisions

1. This Instruction determines procedure for carrying out currency exchange transactions by physical persons in the domestic foreign exchange market, procedure for establishment of the exchange rates and the organization of work of exchange points, cash desks when carrying out such transactions, and also procedure for carrying out currency exchange transactions by legal entities, individual entrepreneurs, banks of the Republic of Belarus (further - banks), foreign banks in the domestic foreign exchange market.

Action of this Instruction does not extend on:

procedure for carrying out currency exchange transactions when using bank payment cards, including in terminals of automatic currency exchange;

procedure for establishment and application of the exchange rates on the currency exchange transactions made when using bank payment cards and also bringing information on such exchange rates to data of legal entities, individual entrepreneurs, physical persons;

procedure for carrying out currency exchange transactions when implementing money transfers if such transactions are provided in money transfer systems;

procedure for carrying out the currency exchange transactions performed in case of money recovery in indisputable procedure.

2. The terms applied in this Instruction are used in the values determined by article 1 of the Law of the Republic of Belarus "About currency control and currency exchange control".

The term "document in electronic form" is used in the value determined by the paragraph the seventh parts one of Item 2 of the Instruction on use of software and hardware and technologies, holding procedures of remote identification, remote updating (updating) approved by the resolution of Board of National Bank of the Republic of Belarus of September 19, 2019 No. 379.

3. In relation to this Instruction the terms below are used in the following values:

the stock foreign exchange market - part of the domestic foreign exchange market on which currency exchange transactions are performed at the biddings of Belarusian Currency and Stock Exchange open joint stock company (further - the exchange);

the curb foreign exchange market - part of the domestic foreign exchange market on which currency exchange transactions are performed directly between banks, between banks and legal entities, between banks and physical persons, between banks and foreign banks;

cash desk - the room (cabin) which is specially equipped according to technical requirements intended for carrying out currency and exchange and other banking activities;

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