The Central Bank of the Russian Federation has introduced a commission of 30 per cent for individuals when buying currency on the stock exchange. According to the regulator, the commission charged by brokers from individuals when buying currency on the exchange equalizes competition between banks and brokers. “The 30 per cent commission that brokers must
Tag Russian Central Bank
Russia’s Central Bank Announced Support Measures for Russian Banks
The Bank of Russia has allowed credit institutions to temporarily not reflect the negative revaluation of securities on their balance sheets so that this does not worsen their performance. The regulator has already applied similar measures in 2014 and 2020. Russian banks will be able to not recognize losses due to the depreciation of securities
Russian Central Bank Issues Coin Dedicated to Yakut ASSR 100th Anniversary
On February 1, 2022, the Bank of Russia will issue a commemorative silver coin with a nominal value of 3 rubles called the “100th Anniversary of the Formation of the Yakut ASSR”. A silver coin with a nominal value of 3 rubles (the mass of the precious metal in purity is 31.1 g, the alloy
Russian Banks Increased Net Profit by Almost 50%
Russian banks in 2021 increased their net profit by 47 per cent, to 2.363 trillion rubles compared to 1.608 trillion rubles of profit in 2020, which follows from the review of the Russian Central Bank, which has predicted earlier that the net profit of banks in 2021 will be a record and will amount to
Russian Ministry of Finance Opposed Ban on Cryptocurrencies
According to the Director of the Financial Policy Department of the Russian Ministry of Finance, Ivan Chebeskov, the ban on operations with cryptocurrencies and mining will lead to the country lagging behind in the high-tech industry. Therefore, the Ministry of Finance advocates the regulation of cryptocurrencies instead of banning them. The director of the department
Russian Central Bank Stopped Buying Foreign Currency
The Bank of Russia announced the suspension of currency purchases on the market as part of the budget rule in order to “reduce the volatility of financial markets.” The decision to stop purchases was made after a sharp decline in the ruble exchange rate. During the auction on January 24, the dollar value exceeded 79
Russian Central Bank Stands for Ban on Cryptocurrencies
The Bank of Russia has unveiled proposals that would see the sale, mining, and circulation of cryptocurrencies banned as part of a radical move that finance chiefs say would protect the economy from the risks associated with digital currencies. “The growing interest of Russian citizens, a significant amount of investments and high risks of transactions
Russian Central Bank to Start Controlling All P2P Transactions
The Central Bank will start requesting data from banks on all money transfers between individuals. This is seen as a necessary measure to fight illegal online casinos, crypto exchanges, and businesses that accept payments on personal cards. The Bank of Russia has sent a new form of reporting on money transfers between individuals to the
Russian Central Bank Reduced Loss Almost Threefold
The Central Bank of Russia reduced the loss almost threefold in 2019, which follows from the bank’s annual report. The report states that the losses were reduced to 182.6 billion rubles against 434.7 billion rubles in 2018. Over the year, revenues increased by 9.14 per cent (to 630.7 billion rubles), expenses fell by 27.9 per
Russian Central Bank to Establish Official Exchange Rates on Non-Working Days
The Central Bank of Russia will set the official dollar exchange rate at 77.7325 rubles on March 28 – April 6, which is 99 kopecks lower than the previous figure. The official euro exchange rate has been reduced to 85.7389 rubles, TASS reports. During an appeal to citizens on March 25 in connection with the
Escrow Accounts for 4.2 Billion Rubles Were Opened in Nizhny Novgorod Region
According to data as of January 1, 2020, in the Nizhny Novgorod region, escrow accounts for shared housing are 4.2 billion rubles. They were opened by more than 1.35 thousand pieces, NewsNN reports with reference to the Volga-Vyatka department of the Russian Central Bank. In total, in the Volga Federal District, 19.8 billion rubles were
Central Bank: Russia is Now Far Less Dependent on US Dollar
“Russia is ready to significantly reduce its dependence on foreign financing,” Alexander Morozov, chief of the Research and Forecasting department at the Central Bank of Russia, has told Russian broadcaster RT. Moscow has been dumping the US dollar from its international reserves, halving its share to around 24 % in one year. The diversification
