For the budget, the dollar exchange rate is needed a little lower than now – Kommersant

Russian President Vladimir Putin said that for the stability of the state budget, the dollar exchange rate should be set at a lower level than it is now. He expressed hope that the situation on the foreign exchange market will change due to the signing of a decree obliging a number of exporters to sell foreign currency earnings.

“For the budget, we need a slightly lower exchange rate, which is why the decree on foreign exchange earnings was signed,” the Russian president said during a conversation with journalists in Bishkek.

The head of state also said that the ruble exchange rate fluctuates, partly because foreign exchange earnings are not returned in sufficient quantities. The President believes that the effect of the decree on foreign exchange earnings “will be, and will be, significant.”

“There is a problem, it is connected with a certain imbalance of cash flows, primarily related to currency. At the first stage, we de-bureaucratized everything as much as possible, but due to various circumstances, I won’t repeat them now, but our economic operators quickly coped with all the problems that they tried to create for them abroad,” said Mr. Putin, speaking about the current situation at foreign exchange market.

Today, October 13, the dollar is trading on the Moscow Exchange at 97.4 rubles, the euro exchange rate is at 102.4 rubles. At the beginning of the week, the dollar repeatedly broke through the 100 ruble mark during trading.

On October 11, Russian President Vladimir Putin signed a decree introducing the mandatory sale of foreign currency earnings for a limited number of companies. The list of exporters to whom the document will apply includes 43 groups of companies in the fuel and energy complex, ferrous and non-ferrous metallurgy, chemical and forestry industries, and grain farming.

Current dollar and euro rates, as well as quotes for the main indices and shares on the Moscow Exchange are available on special page.

Alexander Kislov