Belagroprombank signed agreements Monday with the Moscow Exchange to receive trader status in the exchange's currency markets.
“Belagroprombank’s participation in tenders at the biggest exchange in the post-Soviet space will become an important integration element for the financial markets and the implementation of the joint currency policy within the Eurasian Economic Union,” bank representatives said.
The Moscow Exchange considers the agreement with one of Belarus' premier financial institutions a major step in the right direction. Bank participation in the currency markets will allow Belarusian currency liquidity to become more present. It will allow conversion costs to fall between the Russian ruble and the Belarus ruble.
This cooperation will facilitate mutually beneficial partnerships between the two financial institutions, the bank said. With this partnership, more favorable conditions in conversion rates will become apparent between the two nations.