The Bank of Russia announced on Wednesday that it will suspend foreign currency purchases until the end of the year to reduce the volatility in the financial market.The central bank said in the statement that the regulator will continue conducting currency sales operations linked to the National...
The euro surged over 4% against the ruble on Wednesday, breaking the 155 ruble mark and reaching its highest point since late March 2022, a month after Russia's invasion of Ukraine. The dollar jumped 2.5% against the Russian currency, also pushing it to highs unseen since March 2022. The ruble's...
The Italian-Russian Chamber of Commerce (IRTP) is set to introduce a new system in February that will enable Russian companies to purchase Italian goods using rubles, as reported by RIA Novosti on Saturday.
According to IRTP head Ferdinando Pelazzo’s comments to the media, the system is...
Russia's economy is under significant stress due to the war in Ukraine, a new Financial Times report said Thursday. Based on a draft text conducted by the US Treasury Department, the report mentions that the Russian economy would have grown by 5% if it had not invaded its neighbor.
Besides, the...
Bank of Russia President Elvira Nabiullina shared on Wednesday on the sidelines of the Finopolis forum that the central bank is aiming to implement the digital ruble on a larger scale in 2025.
"Currently, testing of the digital ruble is going according to plan. Our plans next year are to expand this pilot...
Russia introduced on Thursday export duties related to the dollar-ruble exchange rate, the government's press office revealed in a statement. The order will come into effect on October 1.
Moscow shared that the measure, set to "protect the domestic market," will be implemented temporarily...
Russian President Vladimir Putin underlined on Tuesday, while delivering a speech at the Eastern Economic Forum in Vladivostok, that limiting the payments in dollars has undermined the trust in the West.
This step has, according to Putin, led many countries to think about conducting "payments...
Economic Advisor to Russian President Vladimir Putin, Maxim Oreshkin (pictured) underscored that the ruble's depreciation has passed.
"In the coming months, the market will receive higher volumes of foreign exchange earnings from increased prices for export goods. Which, taking into account the...
The Russian ruble bounced back from the sharp losses suffered over the past few days after the country's President Vladimir Putin reportedly scheduled a special meeting to discuss currency control in an effort to stop the slump.
On Tuesday, the Bank of Russia held an extraordinary meeting at which it...
Russian President Vladimir Putin is scheduled to hold a special meeting to discuss alternatives for the control of the ruble after an exceptional rate hike of 3.5 percentage points failed to halt its fall, Financial Times reported on Wednesday, citing two people with knowledge of the matter.
According to...
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