BLBG:Belarus Ruble Falls To 8,600 Per Dollar In Free Exchange Trade
MOSCOW (Dow Jones)--The Belarusian ruble fell to 8,600 to the dollar in a new exchange-based trade aimed at letting the currency float freely, according to a bank involved in the trade.
The currency reached 8,600 to the dollar, according to BelSvissBank, and the central bank in Minsk also later quoted the local currency at 8,600 per dollar, 12,100 per euro, and 305 per Russian ruble.
The new trading regime is designed to reduce or eliminate the difference between official Belarusian ruble trade and black-market transactions.
The International Monetary Fund said Tuesday it wouldn't extend a loan to Belarus. The country struggles with a shortage of foreign currency, increased foreign energy bills and stagnant exports.
-By William Mauldin Dow Jones Newswires; +7 495 232-9192, william.mauldin@dowjones.com
(Olga Tomashevskaya in Minsk contributed to this report.)
