The obligation to sell foreign currency to exporters in Russia was eased

In the written statement made by the Ministry of Finance, it was stated that a new decision was taken regarding the foreign exchange market in the country.

In the statement, which included the information that the ruble stabilized and sufficient liquidity was restored in the foreign exchange market, it was noted that for this reason, the forced sale rate of Russian exporters' foreign exchange earnings was reduced from 80 percent to 50 percent.

On February 28, the Ministry of Finance obliged Russian exporters to sell 80 percent of their foreign exchange earnings in foreign trade, as Western countries froze half of the Russian Central Bank's reserves.

The dollar/ruble parity, which was traded at the 81 band on February 23 before the war, which started in Ukraine, went up to 120 on March 9, dropped more than 50 percent from this level and fell to the level of 57 for the first time since the start of the war.