On May 23th, 2022, the Ministry of Finance of Russia announced the decision to reduce the requirement for the mandatory sale of exporters’ foreign exchange earnings from 80% to 50%.
Earlier, the fact that exporters must sell 80% of foreign exchange earnings under all foreign trade agreements was reported on February 28. Today, this indicator has changed for the better.
The Ministry of Finance noted that the decision was made by a subcommittee of the Government Commission for the Control of Foreign Investments in the country against the background of the stabilization of the ruble exchange rate and the achievement of a sufficient level of liquidity in foreign currency in the domestic foreign exchange market.
Earlier in the day, the Ministry of Economic Development of the Russian Federation reported that the strengthening of the ruble exchange rate was successful. It is clarified that the main role in the process of adaptation and strengthening of the ruble exchange rate will be played by the reduction of the key rate by the Central Bank of Russia.
Thus, reducing the requirement for the sale of foreign exchange earnings from 80% to 50% helps companies manage their funds more fully in today’s realities.