Central bank to remove euro from currency basket

December 8, BPN. The Belarusian central bank says it has decided to remove the euro from its currency basket. The decision will come into force on December 12.

Financial authorities will use the following weightings to calculate the exchange rate: 60 percent Russian ruble, 30 percent US dollar, and 10 percent Chinese yuan. The ruble’s weighting will rise by 10 points from 50 percent. The weighting of the other currencies will not change. The euro currently makes up 10 percent of the basket.

The regulator said trade between Belarus and other members of the Eurasian Economic Union was on the rise, as well as its trade with China, while euro settlements are few and far between.