EAEU plans to set up council to coordinate exchange rate policy
MOSCOW. KAZINFORM - The Board of the Eurasian Economic Commission (EEC) has approved the draft agreement on the advisory exchange rate policy council of the Eurasian Economic Union member states, BelTA learned from the EEC press service.
«The document is built on the provisions of the EAEU Treaty.It stipulates that the exchange rate policy is coordinated by a separate bodycomposed of the heads of national (central) banks of the EAEU member states,»the EEC said.
The draft agreement sets out the tasks, functions, membership and powersof the council and also describes the order and procedures of decision making.The council shall promote cooperation between the national (central) banks onexchange rate policy, identify potential sources of vulnerability and externalshocks that can cause instability in the domestic currency markets and increasemutual fluctuations of the national currencies, Kazinform refers to BelTA.