RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of September 13, 2006 No. 129

About procedure of obligatory sale of foreign currency in the domestic foreign exchange market

Based on Articles 26, 33 and 277 Bank codes of the Republic of Belarus, presidential decrees of the Republic of Belarus of July 17, 2006 "About obligatory sale of foreign currency" and of May 12, 2009 No. 240 "About some questions in the field of currency control" the Board of National Bank of the Republic of Belarus DECIDES: No. 452

1. Approve the enclosed Instruction about procedure of obligatory sale of foreign currency in the domestic foreign exchange market (further - the Instruction).

2. Determine the list of the foreign currencies which are subject to obligatory sale in the domestic foreign exchange market of the Republic of Belarus according to appendix to this resolution.

3. No. 255 is excluded according to the Resolution of Board of National Bank of the Republic of Belarus of 21.04.2014

4. Declare invalid the resolution of Board of National Bank of the Republic of Belarus of December 30, 1999 No. 29.11 "About approval of the Procedure for obligatory sale of means in foreign currency by authorized banks" (The national register of legal acts of the Republic of Belarus, 2000, No. 21, 8/2623).

5. This resolution becomes effective on September 21, 2006.

Chairman of the board

P.P.Prokopovich

It is approved Deputy prime minister of the Republic of Belarus September 13, 2006

A. V. Kobyakov

It is approved Vice-chairman of the State Control Committee of the Republic of Belarus September 13, 2006

A. V. Ageev

Appendix

to the Resolution of Board of National Bank of the Republic of Belarus of September 13, 2006 No. 129

The list of the foreign currencies which are subject to obligatory sale in the domestic foreign exchange market of the Republic of Belarus

1. Australian dollar

2. Danish krone

3. US dollar

4. Euro

5. Iceland krona

6. Yen

7. Canadian dollar

8. Norwegian krone

9. Russian ruble

10. Pound sterling

11. Swedish krona

12. Swiss franc

13. Forint

14. New Israeli shekel

15. New Zealand dollar

16. Zloty

17. Turkish lira

18. Czech koruna

19. Lithuanian litas

20. Latvian lat

21. Tenge

22. Chinese yuan

 

Approved by the Resolution of Board of National Bank of the Republic of Belarus of September 13, 2006 No. 129

The instruction about procedure of obligatory sale of foreign currency in the domestic foreign exchange market

Chapter 1. General provisions

1. This Instruction determines the amount of obligatory sale of foreign currency in the domestic foreign exchange market and single procedure by legal entities (except banks, the non-bank credit and financial organizations, insurance companies, residents of free economic zones of the Republic of Belarus) and the individual entrepreneurs who are residents of the Republic of Belarus (further - legal entities and/or individual entrepreneurs), obligatory sale of foreign currency in the domestic foreign exchange market.

2. The terms "export" and "residents" applied in this Instruction are used in the value specified in article 1 of the Law of the Republic of Belarus of July 22, 2003 "About currency control and currency exchange control" (The national register of legal acts of the Republic of Belarus, 2003, No. 85, 2/978).

The term "revenue in foreign currency" is used in this Instruction in the value determined by the Presidential decree of the Republic of Belarus of July 17, 2006 No. 452 "About obligatory sale of foreign currency" (The national register of legal acts of the Republic of Belarus, 2006, No. 112, 1/7753).

In relation to this Instruction terms and their determinations are used in the following values:

banks - the banks and the non-bank credit and financial organizations which are those according to the legislation of the Republic of Belarus, their branches, and also National Bank of the Republic of Belarus (further - National Bank), including its structural divisions;

nonresident banks - the banks and the non-bank credit and financial organizations created according to the legislation of foreign state with the location outside the Republic of Belarus;

foreign currency - foreign currency cash according to the list of the foreign currencies which are subject to obligatory sale in the domestic foreign exchange market of the Republic of Belarus according to appendix to the resolution of Board of National Bank of the Republic of Belarus of September 13, 2006 No. 129.

3. Legal entities and individual entrepreneurs perform obligatory sale of foreign currency in the domestic foreign exchange market (further - obligatory sale) in the amount of 10 percent of the amount of revenue in foreign currency.

4. Obligatory sale is performed through banks at the biddings of Belarusian Currency and Stock Exchange open joint stock company (further - the exchange).

If the amount of the foreign currency which is subject to obligatory sale, less lot, established at the exchange biddings, such sale is performed to the bank serving the account into which revenue in foreign currency, on the rate established by bank arrived.

5. Legal entities and individual entrepreneurs represent to bank according to this Instruction necessary documents during the period of time determined by bank for work with clients.

6. Copies of the documents proving non-realization of obligatory sale:

are stored in bank during the term established by the legislation;

can be represented to bank in electronic form or on the machine carrier.

The procedure for representation and storage of such documents is established by bank independently.

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