The Russian government has abolished the mandatory sale of foreign exchange earnings by exporters

On August 14, Russian Prime Minister Mikhail Mishustin signed a decree on zeroing the size of the mandatory sale of foreign exchange earnings by exporters.

"The decision was made due to the strengthening and stabilization of the national currency exchange rate, as well as the absence of problems with foreign exchange liquidity," the resolution says.

They recalled that before that, the largest Russian exporters had to deposit at least 40% of the foreign currency received under foreign trade contracts to their accounts with authorized banks and sell at least 90% of the credited currency on the domestic market.

Exchange resource: how Russians feel about buying foreign currency

And how can the ruble exchange rate change before the end of the year

Spartak Sobolev, Head of Alfa-Forex's Research and Investment Strategies Department, told Izvestia on August 11 that stability remained in the Russian foreign exchange market in the first half of August. According to him, the focus of market participants is shifted towards external factors, including the expectation of the summit of the Russian Federation and the United States in Alaska, which will be held on August 15.

All important news is on the Izvestia channel in the MAX messenger.