The Belarus central bank is planning a managed float of the ruble to curb forex volatility and an 11th interest rate increase in 2011, Bloomberg reports. 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 operator Beltransgaz to Russia’s natural gas export monopoly Gazprom may create $2.5 billion of that, $1 billion in a Sberbank loan and a $440 million tranche from its Eurasian Economic Community loan.
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