– which maintains a floating rouble policy – was ready to take part in the trade to increase liquidity in other nations’ currencies.
Exporters were ready to switch to other currencies while importers preferred dollars and euros, she said. Siluanov gave no other details of how the scheme might work, though the rouble pared gains after his and Nabiullina’s comments, heading away from levels around 50 against the dollar that it had neared for the first time since May 2015.
With Russia looking for ways to soften the sanctions blow on its financial sector, Siluanov said his ministry would also suggest allowing export-focused companies to receive proceeds from non-residents in cash. The Moscow currency exchange this week started trading the South African rand and the Armenian dram, and is preparing to launch trading in the Uzbek sum and the United Arab Emirates dirham. It has been trading the
Source: News Formal (newsformal.com)
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