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Wednesday, June 29, 2022
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SANCTIONS CONTEXT

CURRENCY EXCHANGE RATES

RUB - Russian Ruble
EUR
60.9451
USD
58.3750

LATEST MARKET STUDY

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Bank of Russia intends to soften the currency control measures for exporters

The Bank of Russia is considering the possibility of softening the requirement for the sale of foreign exchange earnings by exporters. Earlier, in order to strengthen the ruble, the Ministry of Finance obliged exporters to sell 80% of their proceeds in foreign currency.

In particular, the Central Bank is considering the option of extending the deadlines for the mandatory sale of proceeds (currently, exporters must sell it within three business days after being credited to the account), changing the minimum sales threshold, in particular, calculating the standard based on import costs and other parameters. In general, the Bank of Russia intends to soften the currency control measures.

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