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National Bank suspends sales of precious metals for Belarusian rubels

 

The National Bank of Belarus (NBB) has suspended retail sales of ingot gold, silver and platinum for Belarusian rubels.

Starting April 15, the NBB sells the precious metals to individuals and legal entities only for US dollars but buys them back for Belarusian rubels.

The NBB press office told BelaPAN that the measure was temporary, refusing to elaborate.

Earlier this month, NBB spokesman Anatol Drazdow revealed that the bank was experiencing shortages of ingot gold and diamonds for retail sale. He said that gold bars weighing more than 10 grams were unavailable, but expressed confidence that the problem would be solved soon.

Experts say that the public has rushed to buy precious metals and stones amid the current acute shortage of foreign exchange in the country.

According to the NBB, retails sales of ingot gold increased fivefold in the first three months of this year compared with the same period of 2010. The bank reportedly sold 209 kilograms of gold in the first two months and a total of 471 kilograms in March. //BelaPAN