In brief
At a currency‑policy meeting in Minsk, Belarus’s central‑bank chief Roman Golovchenko confirmed that intra‑EAEU payments in national currencies climbed to 93.5 %. The rise, driven by market forces, reduces transaction costs and currency risks for member states. The council also discussed the bloc’s economic conditions, monetary policy, cheating‑payment measures, and the possible role of digital currencies.
Minsk, 30 October 2026 – Roman Golovchenko, chairman of the Board of the National Bank of the Republic of Belarus, announced during a meeting of the advisory council on currency policy of the central banks of Eurasian Economic Union (EAEU) member states that payments in national currencies for commodities and services traded within the bloc have reached 93.5 percent.
Golovchenko said the share of national‑currency settlements rose as businesses across Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia increasingly preferred trusted, predictably‑priced payment avenues without external intervention. The shift, he added, cuts transaction costs and exposes the bloc to less currency‑risk volatility.
The 93.5 percent figure represents an uptick in the bloc’s momentum toward easier intra‑EAEU trade and highlights the market‑driven nature of the conversion. He noted that the increased use of local currencies allows firms to avoid the friction and foreign‑exchange exposure that previously dominated cross‑border commerce.
In the same forum, the council also covered the Union’s present economic backdrop, revisiting monetary‑policy stances, discussing strategies to deter illicit payments, and debating the potential regulation and use of central‑bank digital currencies (CBDCs) and virtual assets. The sweatwork aims to create a robust digital‑payment framework that balances innovation with financial‑system stability.
Established in 2015, the EAEU – consisting of Belarus, Kazakhstan, Kyrgyzstan, Russia, and Armenia – has pursued greater economic integration for more than a decade. The council’s latest report shows that the integrative measure of currency‑by‑currency settlement has come a long way, diminishing the need for conventional currency swaps.
While the statistic underscores progress, Golovchenko cautioned that the Union still faces challenges in harmonising regulatory standards across its five members. He emphasized that market stimulus, rather than regulatory compulsion, seems to be the power behind the 93.5 percent conversion.
The meeting’s breakout sessions delved into market‑driven mechanisms that likely underpin the rising use of national currencies. Experts pointed to the high reliability of member states’ sovereign creditworthiness as a key factor, as well as growing confidence in each country’s legal and financial frameworks.
Speaking of potential CBDCs, the council acknowledged that central‑bank digital currencies could further smooth trade. Yet, they stressed that any implementation must align with each member’s regulatory landscapes and technological readiness.
The session concluded with a consensus that continued collaboration on digital‑payment platforms, along with robust anti‑fraud measures, is essential for sustaining the high level of currency‑based trade within the Union’s borders.