Belarus's central bank to raise key refinancing rate to 25 pct from 20 pct
KIEV, Jan 8 (Reuters) - The key refinancing rate in Belarus will rise to 25 percent from 20 percent from Jan. 9, the central bank said on Thursday, in a further move to protect its currency from market turmoil in neighbouring Russia.
The bank also said it would only step in to protect foreign exchange rates using its gold reserves at times of peak volatility and scrapped a tax requiring individuals to pay tax on purchases of foreign currency.
Earlier on Thursday Belarus devalued its currency for the second time in a week, cutting the dollar rate for its rouble by 7.5 percent.
(Reporting by Andrei Makhovsky; Writing by Alessandra Prentice; Editing by Alison Williams)
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