HomeForex UpdatesRussia eases FX controls for some export-focused firms By Reuters

Russia eases FX controls for some export-focused firms By Reuters


FILE PHOTO: A Russian state flag flies over the Central Financial institution headquarters in Moscow, Russia March 29, 2021. An indication reads: “Financial institution of Russia”. REUTERS/Maxim Shemetov

(Reuters) – The Russian central financial institution mentioned on Tuesday it had determined to ease foreign exchange foreign money management measures for Russian export-focused firms exterior the commodities and vitality sectors.

The necessary gross sales of international foreign money earned by these firms stays in place, nonetheless the foreign money they obtain after April 19 can now be offered inside 60 days as a substitute of the earlier three days, the central financial institution mentioned.

This rule presently lasts till Sept. 1 however may be prolonged if wanted, the regulator added in its assertion.

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