2023-12-24 22:16:00
The share of net sales of foreign currency earnings by exporters in November may reach 100%. This was announced by the Chairman of the Bank of Russia, Elvira Nabiullina.
“We are now really seeing an increase in foreign currency sales by exporters. In November, net sales of foreign currency by exporters may even approach 100% of revenue,” Nabiullina told RBC.
The growth of foreign currency sales by exporters is now influenced by several factors: higher oil prices, one-time factors related to currency conversion for dividend payments, and the decree of Russian President Vladimir Putin on the mandatory sale of foreign currency earnings, the head of the Central Bank said. She emphasized that the effect of the decree should be limited in time (it is currently valid until April 11, 2024).
Putin signed a decree on the mandatory sale of foreign currency by individual exporters under foreign trade contracts. This will increase the transparency and predictability of the foreign exchange market, recalls MK.RU.
1703473598
#share #net #sales #foreign #currency #earnings #exporters #November #reach