The Central Bank recommends banks to apply differentiated exchange rates

On March 30th, the Central Bank sent a letter to credit institutions with recommendations to use different currency exchange rates depending on the type of a company’s activity:
• For importers: the purchase price of the currency should not exceed the exchange rate more than 2 rubles. The same applies to corporate clients with foreign currency loans or Eurobonds, for legal entities, for the purpose of transactions with the permission of a Special Government Commission
• For other companies, the recommended deviation from the stock exchange levels for dollars, euros and pounds sterling, should be no less than 10 rubles
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