Updated at 16:11,02-12-2016

National Bank denies plans to introduce tough restrictions on retail sales of foreign cash

The press office dismissed Thursday rumors that the National Bank of Belarus is preparing to introduce tough restrictions on retail sales of foreign cash amid its acute shortages in the country.

"We are not working on such a document," the press office said.

Rumors are circulating that individuals will be required to produce the passport when buying foreign cash from a foreign exchange outlet as the National Bank will set a daily limit on the sale of foreign cash to one customer.

Last Friday, Prime Minister Mikhail Myasnikovich said that the Council of Ministers and the National Bank were working on additional measures to increase control over "foreign currency flows at the cash market and non-cash markets." "Foreign currency is a very expensive resource… and it must be handled properly," the premier said.

In June, some small business associations put forward their proposals for dealing with the current difficult situation in the foreign exchange market, suggesting, among other things, setting a daily maximum amount of foreign cash that an individual may buy from a foreign exchange outlet within one day.