The head of the Central Bank allowed an increase in sales of foreign currency earnings to 100% for the first time since March
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The head of the Central Bank Nabiullina allowed an increase in sales of foreign currency earnings to 100% for the first time since March
Chairman of the Bank of Russia Elvira Nabiullina said that the share of net sales of foreign currency earnings by exporters in November could reach 100%. She noted that there is now an increase in foreign currency sales by exporters, which could lead to net foreign currency sales by exporters approaching 100% of revenue in November.
This increase in foreign currency sales by exporters is due to several factors, such as higher oil prices, one-time factors related to currency conversion for dividend payments, as well as the decree of Russian President Vladimir Putin on the mandatory sale of foreign currency earnings. Nabiullina emphasized that the decree should be temporary and is now valid until April 11, 2024. Writes about this RBC.
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