Belarus' central bank has stopped selling gold to local retail customers for Belarussian roubles, reports Reuters. The halt came as demand for gold soared due to expectations of a currency devaluation.
Belarus is in talks with Russia on a $3 billion bailout package that Minsk hopes will help it avoid a painful devaluation of the rouble and offset the large current account deficit.
Belarussians bought 470 kilograms of gold from the central bank last month, up from 209 kilograms in January and February together. Four hundred seventy kilograms is equal to 16, 544 ounces.
(Thanks2Shill)
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