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Russia Loosens More Capital Controls as Ruble Extends Surge

  • Mandatory exporter sales cut to 50% from 80% of earnings
  • Ruble trims gains vs dollar in heavy trading volumes
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Russia eased a key capital control that’s underpinned the ruble’s recovery as the currency’s blistering rebound picked up pace Monday. 

The share of foreign-exchange proceeds that exporters are required to sell is being reduced to 50% from 80%, the Finance Ministry said in a website statement.