Reuters
Russian rouble weakens past 80 vs dollar, stocks fall sharply
The Russian central bank is considering easing requirements for mandatory foreign currency revenue sales by export-focused companies, business daily Vedomosti reported, citing a central bank official. Currently, Russian exporters are obliged to sell 80% of their forex revenues in the first three days after receiving it under a rule established by President Vladimir Putin in late-February to limit the rouble’s volatility amid western sanctions. The rouble eased this week after the central bank scrapped a 12% commission for buying foreign currency through brokerages and promised to lift a temporary ban on selling foreign exchange cash to individuals from April 18.
