The Central Bank is changing the rules of currency exchange: the Russians will again run for dollars

The rate can jump by 10%

The Central Bank has softened the rules for the sale of cash dollars and euros to Russians. From now on, in exchange offices of banks it is allowed to sell currency received not only from individuals, but also from other sources. Accordingly, there will be a little more cash. The relief will be valid from the beginning of August 22 until September 9. Why did the Bank of Russia decide to change the rules? How will this affect the ruble exchange rate? Should Russians run to banks for dollars? About this “MK” said a financial analyst, candidate of economic sciences Mikhail Belyaev.

– We must clearly understand: the Central Bank has not softened the rules of currency exchange. He softened the rules for the formation of resources for individuals to carry out currency exchange transactions. The Central Bank allowed the use of funds not only previously received from individuals, but also from non-resident banks, legal entities, etc. We can say that the resource base has been expanded, from where banks can take paper money. Nothing has changed in the rules for individuals. It’s just that now banks have more opportunities to conduct foreign exchange transactions.

– Why did the Central Bank make such an indulgence only until September 9?

– What is the purpose of the Central Bank is impossible to understand. There is an assumption that the rules were softened as part of some kind of experiment. Although it sounds strange. When, it would seem, the population needs to be tuned in to calming down, resolving the situation, the Central Bank announces the time frame. In addition to additional excitement and unrest among citizens, this will not achieve anything.

– The decision of the Central Bank may affect the exchange rate?

– Not. The real exchange rate is affected by the general state of the Russian, American and European economies. They determine the trend movement of the course. In our case, we are talking about transactions performed by individuals, and these are very small volumes. But if suddenly the population begins to show an increased demand for dollars, then, naturally, in the short term, by 10 percent, the exchange rate against the ruble may jump. Banks themselves, for example, seeing increased demand, may raise the rate, however, not for long. Such excitement will not benefit the economy. Business. Yes, and citizens need stability and predictability, and not new rules that are introduced for a while.

– Will the Russians run after the currency as a result?

– There will be a surge in consumer demand and, perhaps, the rate will grow because of this, but this will not last long. Individuals do not have enough money for the hype to continue for a long time. What currency will people go to banks for? For euro and dollar. It is useless to explain that the era of these currencies has already passed. So there will be demand.

– The Central Bank will continue to soften the rules for buying currency?

– Can continue, yes. But what’s the point? Perhaps, when the situation calms down, the rules are softened. But I would not say that such rules somehow significantly affect the exchange rate. The course determines the state of the economy. 59-60 rubles per dollar, as it is now, is a fair exchange rate.