MOSCOW, Aug 27 (Reuters) – Russia’s central financial institution mentioned on
Saturday a slight easing of international forex restrictions on
banks that took impact this week would increase the availability of money
{dollars} and euros on the native market.
Beneath present guidelines, banks have solely been allowed to promote
international forex money that had been purchased from people
after April 9.
However because the begin of this week, they’ve been permitted
to promote money {dollars} and euros obtained from different sources,
monetary information outlet Frank Media reported on Saturday, citing a
letter despatched by the central financial institution to credit score establishments.
“That is a further tweak to the measures already in
place, which permit for the elevated provide of money {dollars} and
euros on the Russian market,” the Financial institution of Russia mentioned on
Saturday, in response to an emailed request for remark.
The change marks an easing of capital controls which have
buttressed the rouble in current months. It’ll put draw back
strain on the native forex and will ease considerations amongst
Russian households in regards to the provide of international forex.
Apart from {dollars} and euros, Russian banks have
been permitted to promote residents international forex with out
restrictions since Might.
Curbs on {dollars} and euros are set to stay in place till
March 9, 2023.
(Reporting by Reuters
Enhancing by Helen Popper)
