Ermakova: No denomination for the forthcoming year, Ermakova says

19.12.2013 | Economy

New money has already been printed and is waiting to be issued.

Nadzeia Ermakova, Belarus' National Bank chairwoman, says it is too early to talk about redenomination; yet it is definitely planned. To conduct it, the inflation rate should not exceed 10% per year, Euroradio quotes her explaining. Otherwise, high denominator notes will be needed again soon.

The inflation is planned to reach 11% next year so it is too early to speak about redenomination now, the head of the National Bank noted. “We have new banknotes but is too early to introduce them,” Nadzeia Ermakova said.

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Ermakova: No denomination for the forthcoming year, Ermakova says

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