State Duma Deputy Chairman Alexander Babakov from the group “Fair Russia – For Truth” called for the restoration of the return of foreign currency earnings to the country and the establishment of foreign exchange control to strengthen the ruble. In this respect writer RIA News.
The politician explained the decline of the ruble to 97 rubles per dollar with the “deterioration of the foreign trade balance”. According to that. Industrialists and experts believe that foreign exchange control should be restored and foreign exchange earnings should be returned to Russia immediately. According to Babakov, this will “strengthen the ruble and allow the entire normal part of the economy, the real sector, to rely on a stable ruble exchange rate in a narrow corridor for at least one and a half to two years.”
Paramentary believes that the risks of rising prices should be offset by a key decline in expanding lending to the real sector (for example, metallurgists and companies in the agro-industrial complex). He added that collateral requirements should be reduced and the project should increase unsecured financing.
Currency control in Russia was abolished on March 1, 2018 – transaction passports were revoked. On February 6, 2023, Russian President Vladimir Putin, by his decree, completely abolished the mandatory sale of foreign currency earnings for exporters. The head of state allowed such companies to deposit their foreign currency earnings, bypassing their mandatory sales, to the accounts of suppliers in authorized banks. Previously, the size of the forced sale was determined by the government commission. First, the measure was introduced in 2022 against the backdrop of the depreciation of the ruble.
At auctions on the Moscow Exchange on Wednesday, for the first time since March 2022, the dollar rate slightly exceeded 97.5 rubles, the euro – 107 rubles, the yuan – 13.5 rubles. BCS World of Investments stockbroker Dmitry Babin in an interview with socialbites.ca registeredthat the rise in oil prices will not help strengthen the ruble yet.
Previously it was It is called the “six” of the ruble.