Russia and Belarus prepare to join currencies currency in their Union State on November 10.

Russia and Belarus are expected to sign an agreement on the introduction of a single currency in their Union State on November 10. An agreement on the establishment of a joint issuance center will be signed simultaneously, Pavel Smirnov, head of the International Financial and Economic Relations Department in the Bank of Russia, told a news conference in Moscow on Wednesday. The agreement has been approved by the Council of Ministers of the Union State and will be signed by the presidents of the two countries, Smirnov said. Under the document, the Bank of Russia will help the National Bank of Belarus in maintaining stability and purchasing power of the Belarussian ruble on market conditions, he said. The Russian ruble is to be used in Belarus from January 1, 2005. The transition to a common currency is to be brought to completion in - RBC reports.

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