Agreement between the Government of the Republic of Kazakhstan, National Bank of the Republic of Kazakhstan and Government of the Republic of Belarus, National Bank of the Republic of Belarus on measures for ensuring mutual convertibility and stabilization of rates of the Kazakhstani tenge and Belarusian ruble

of January 17, 1996

The government of the Republic of Kazakhstan, National Bank of the Republic of Kazakhstan, on the one hand and the Government of the Republic of Belarus, National Bank of the Republic of Belarus on the other hand which are hereinafter referred to as by the Parties

in view of functioning in the territory of both states of national cash systems with use as legal means of payment in the Republic of Kazakhstan - the Kazakhstani tenge, and in the Republic of Belarus - Belarusian ruble, considering current status of the payment and settlement relations between the Republic of Kazakhstan and the Republic of Belarus,

recognizing need of carrying out further work on rapprochement of the current legislation according to the Republic of Kazakhstan and the Republic of Belarus governing the currency relations on the basis of their further liberalization

agreed as follows:

Article 1

Necessary condition of achievement and maintenance of steady mutual convertibility of the Kazakhstani tenge and Belarusian ruble is implementation by the Parties of actions for stabilization of internal and external cost of national currencies.

Article 2

National Banks of the Republic of Kazakhstan and National Bank of the Republic of Belarus will provide regular exchange of information about the official rates of the Kazakhstani tenge and Belarusian ruble established by them to foreign currencies.

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