The Central Bank of Russia (CBR) is considering the possibility of softening the obligation for exporters to sell their foreign exchange earnings. writes about him RBC referring to the press service of the bank.
The Central Bank is considering the option to extend the deadlines for the forced sale of proceeds. According to current rules, exporters are required to sell within three business days of being credited to the account.
It is reported that the new limit will be determined according to import costs and other parameters.
Overall, the regulator seeks to soften its currency control measures.
Formerly Vedomosti reported about problems with the sale of money from exporting companies.
According to Vedomosti, the problem is related to the sharp decrease in demand for the euro and the dollar – importing companies sharply reduced their turnover due to sanctions and now they do not need so much foreign currency. The situation is aggravated by the existing restrictions on transactions with them for individuals and legal entities.
According to one of the interlocutors of the publication, on some days, at best, exporters sold half of the required 80% foreign exchange earnings on the Moscow Stock Exchange.
On February 28, President Vladimir Putin ordered exporting companies to sell 80% of their foreign currency earnings on the Russian domestic market. Later, while the Central Bank brought a 12% commission on foreign exchange purchases, it also set limits on transfers of dollars, euros and pounds abroad.