International settlement and monetary relations of the Republic of Belarus with countries of far and near abroad, as well as the procedure and areas of application of foreign currencies by domestic organizations, enterprises and citizens, are regulated by a number of legislative acts and instructional materials. The legislative acts and departmental instructions on currency issues define:
basic principles of foreign exchange transactions in the Republic of Belarus; types of currencies and currency values used in the Republic of Belarus; rights and obligations of residents and non-residents with respect to ownership, use and disposal of currencies and currency values in the territory of the Republic of Belarus; powers and functions of Belarusian bodies and agents of currency regulation and currency control, etc.
The most important legislative acts and regulatory materials are as follows:
Law of the Republic of Belarus of July 22, 2003. No. 226-Z “On currency regulation and currency control”; Code of the Republic of Belarus of October 25, 2000. No. 441-Z “Banking Code of the Republic of Belarus”; Law of the Republic of Belarus of December 29, 1998.
No. 223-Z “On state regulation of foreign trade activity”; Decree of the President of the Republic of Belarus of 4 January 2000. No. 7 “On improving the procedure for conducting and controlling foreign trade operations”; Decree of the Council of Ministers of the Republic of Belarus of February 14, 1997. No. 87, National Bank of the Republic of Belarus dated February 14, 1997. No. 4 “On measures to improve the currency market of the Republic of Belarus”; Decree of the Government of the Republic of Belarus dated 8 January 1997. No. 12, National Bank of the Republic of Belarus dated 8 January 1997. No. 1 “On some measures of currency regulation in the territory of the Republic of Belarus”; Decree of the Board of the National Bank of the Republic of Belarus dated April 30, 2004. No. 72 “On approval of the Rules for conducting foreign exchange transactions and amending the Rules for banks to open accounts with customers in the Republic of Belarus”; Decree of the Board of the National Bank of the Republic of Belarus dated September 28, 2000. No. 24.12 “On approval of the Rules for banks to open accounts with customers in the Republic of Belarus”.
After the publication of these regulatory documents, some of them are amended and supplemented, which are dictated by the needs of the economic life of the republic.
T.O., currency legislation is a set of legal norms that govern the procedure for conducting foreign exchange transactions with currency values within the country, transactions between residents and non-residents, as well as the procedure for import / export, transfers and transfers from abroad and abroad of national and foreign currency, etc. foreign exchange values.
On the territory of the Republic of Belarus, the Belarusian ruble is the official monetary unit through which all payments and settlements are made, with the exception of cases provided for by law.
Currency regulation is the activity of the state aimed at regulating international settlements and the procedure for conducting foreign exchange transactions and transactions with currency values.