-
Russia May Ease Key FX Limit as Ruble Surge Hits Budget, Economy
Russia is considering a plan to ease a key control on capital flows which has helped drive the ruble to the highest levels in four years. With the rally now threatening to hurt budget revenues and exporters, a decision to cut the share of hard-currency revenue exporters must convert into rubles to 50% from 80% could come as early as this week, according to two people familiar with the matter, who requested anonymity because the details of the plan aren’t public. The ruble’s rebound has left it 30% stronger against the dollar than it was before Russia invaded Ukraine on Feb. 24. Authorities have been gradually ... (full story)