This is reported by the regulator on its website.
“The Board of Directors of the Bank of Russia, in order to expand the ability of exporters to manage foreign exchange liquidity, decided to further soften the requirement for the mandatory sale of foreign currency.
Exporters get the right to carry out the mandatory sale of foreign currency ... no later than 120 working days from the date of its transfer to transit currency accounts in authorized banks, ”the statement says.
This decision is valid in relation to the received foreign currency, for which the mandatory sale was not carried out, regardless of the date of its crediting to the resident's account in the authorized bank.
On May 26, the Board of Directors of the Central Bank decided to lower the key rate from 14% to 11% per annum.
As explained in the Central Bank, inflation in Russia is slowing down faster than predicted.