Shares in Rosbank, a Russian subsidiary of French bank Societe Generale, jumped 40% after SocGen said it would quit Russia and take a 3 billion euros income hit from selling Rosbank to Interros Capital, a firm linked to Russian oligarch Vladimir Potanin.
Late on Friday the central bank said it would scrap a 12% commission for buying foreign currency through brokerages from April 11 and lift a temporary ban on selling foreign exchange cash to individuals from 18 April. The rouble retains support from the obligatory conversion of 80% of FX revenues by export-focused companies as well as from high interest rates, even though the central bank unexpectedly cut its key rate from 20% to 17% last week.
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