The Bank of Russia named five factors for stabilizing the ruble exchange rate
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After the issue went to press, the government announced measures to force exporters to sell foreign currency earnings to stabilize the exchange rate. This decree was signed by Russian President Vladimir Putin, the press service of the Cabinet of Ministers reported.
In particular, for a period of 6 months, mandatory repatriation and sale of foreign currency earnings on the Russian market is introduced for certain companies in the volumes and terms that will be established by the government.
In addition, the authorities obliged individual companies to submit indicative plans and schedules for the purchase and sale of foreign currency on the domestic market to the Bank of Russia and Rosfinmonitoring. Also, certain companies are introducing authorized representatives of Rosfinmonitoring, whose tasks include monitoring and ensuring compliance with currency regulation rules.
We are talking about 43 groups of companies related to the fuel and energy complex, ferrous and non-ferrous metallurgy, chemical and forestry industries, and grain farming.
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