Residents in Russia can sell foreign currency received from non residents under foreign trade agreements to an authorized bank. The currency that results from this sale can then be moved to the resident’s account at the same authorized bank. This change aligns with a resolution issued by the Russian government and reflects a shift away from tying such sales strictly to the Central Bank of Russia exchange rate on the sale day.
The document clarifies that residents may exchange foreign currency with an authorized bank and then credit the equivalent Russian ruble to their own bank account. Previously, residents could sell currency at the Central Bank of Russia rate on the day of sale and then credit the ruble value to their account. The new provisions expand the framework for how currency flows are handled within the banking system.
Additionally, residents now have the right to receive cash in rubles and ruble-denominated currency from non residents in line with foreign trade agreements. These agreements cover transfers tied to the delivery of goods, provision of services, performance outcomes, knowledge transfer, and intellectual activity. This change broadens the ways in which payments can be settled under ongoing commercial relationships.
Reports from the morning of June 24 indicate that Russia’s major banks have raised exchange rates sharply. Observers noted a range in selling rates for the dollar and euro, with the extremes reaching 105 rubles for the dollar and 115 rubles for the euro on the high side, and lower figures around 84.87 rubles for the dollar and 93.06 rubles for the euro on the low side. These shifts reflect the broader market dynamics affecting currency value and liquidity for residents and non residents alike. [Source: Official government resolution and subsequent market reports] attribution
Analysts note that the movement in exchange rates may be influenced by information dynamics and the domestic political environment within the Russian Federation. The discussion around currency performance continues to be framed by external economic factors as well as policy signals from central banks and the government. [Source: Market commentary and policy notes] attribution
The evolving policy landscape around currency exchange and payments in foreign trade scenarios is watched closely by financial institutions, exporters, and international partners. The changes aim to provide clearer rules for how currency flows are managed between residents and non residents, while maintaining alignment with the broader regulatory framework governing foreign exchange and settlements. [Source: Government communications and financial sector analyses] attribution