Russia-Belarus Union to Discuss Single Currency

The 14th meeting of the Interbank Currency Council will take place in Polotsk in the Vitebsk region (Belarus) today. Among participants of the meeting will be Russian Central Bank Chairman Sergey Ignatyev and Belarusian National Bank Chairman Petr Prokopovich. The meeting will focus on topical issues related to a single currency for the Russia-Belarus Union.

Members of the Council will consider using the Russian ruble as a single medium of payment as well as the steps to be taken to keep the so-called Belarusian ruble under control.

According to the Belarusian National Bank, the Council is also going to discuss measures on currency unification and control as well as on making banking legislation meet the recommendations of the Basel Committee on Banking Supervision.