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
Bloomberg News
Updated on
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.
