Belarus Looks To Limit Forex Volatility

The Belarus central bank is planning a managed float of the ruble to curb forex volatility and an 11th interest rate increase in 2011,Bloombergreports. The ruble slid after the official government exchange rate was unified with a free-floating rate introduced in September.

Gold and currency reserves, up $134.9 million in September to $4.7 billion, may jump $4 billion more by the year-end. A 50 percent stake sale in pipeline operatorBeltransgazto Russia’s natural gas export monopolyGazprommay create $2.5 billion of that, $1 billion in aSberbankloan and a $440 million tranche from its Eurasian Economic Community loan.

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