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Putin gives cenbank rights to determine size of FX operations with non-residents -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A Russian flag is seen flying over Moscow’s Central Bank Headquarters, Russia on March 29, 2021. REUTERS/Maxim Shemetov

(Reuters) – A presidential decree on Friday stated that President Vladimir Putin granted the rights of the central bank to decide the size of currency transactions with non-residents. This includes limiting foreign purchases on Russia’s domestic market.

According to the decree, Russians are forbidden from purchasing stakes in foreign companies without permission of the central bank. This is until the year’s end.

According to the decree, Russian banks can make FX deposits in Russian currency using the current rouble exchange rates until September 1.

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