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CBR See No Need to Extend Mandatory FX Sales: Interfax

RUSSIA
  • The Bank of Russia sees no “solid grounds” for extending mandatory FX sales, Interfax report citing the regulator’s press service. The Bank of Russia says that impact of this measure on the FX market was moderate compared to the impact of monetary policy.
  • This morning, Bloomberg reported that the Russian government supports an extension of mandatory FX sales by major exporters. The measures will be proposed for extension until the end of 2024 as they proved to be effective and helped stabilise the situation in the domestic FX market, First Deputy Prime Minister Belousov said.

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