Customs Union countries to create uniform conditions for banks and currency markets
Kazakhstan, Russia and Belarus will allow each other's banks to the national currency markets on favorable legal regime terms, the agency reports citing the project 'the agreements on the coordinated principles of the currency policy in the uniform economic space member states, published on the Ministry of Economic Development site of the Russian Federation.
Almaty. November 25. Kazakhstan Today - Kazakhstan, Russia and Belarus will allow each other's banks to the national currency markets on favorable legal regime terms, the agency reports citing the project 'the agreements on the coordinated principles of the currency policy in the uniform economic space member states, published on the Ministry of Economic Development site of the Russian Federation.
The draft agreement states the parties "will carry out harmonization and rapprochement of approaches to form and carry out a stage by stage currency policy and in that volume that corresponds to the macroeconomic requirements of the integration cooperation."
According to the text of the agreement, the parties will coordinate the policy, provide convertibility of the national currencies under the current and capital accounts of the balance of payments without restrictions, to create conditions for allocation of the currency assets of the Central Banks in national currencies of the states-participants of the agreement and in the state securities of these states.
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