The Central Bank of Russia did not support the extension of the period for the mandatory sale of foreign currency earnings of major exporters. This was reported by RIA News Citing sources at the Central Bank of Russia.
“Currently, the Bank of Russia does not see any compelling reasons to extend the compulsory sale of foreign currency earnings. “The Bank of Russia believes that the impact of this measure on the foreign exchange market in recent months has been moderate compared to the impact of ongoing monetary policy on the exchange rate and the key interest level,” he said.
The Bank of Russia believes that the increase in export value also has a sufficient impact.
January 23, Russian government supported Extension of measures on the compulsory sale of foreign exchange earnings of the largest Russian exporters until the end of 2024.
Before that, press secretary of Russian President Dmitry Peskov commented The government decided to expand measures on the compulsory sale of foreign exchange earnings of the country’s largest exporters.
It was previously known how the weakening of the ruble occurred will be reflected about the state of the economy.