The Bank of Russia from January 18, 2023, begins to set the official exchange rate of the ruble to another nine foreign currencies. These include the UAE dirham, the Thai baht, the Georgian lari and others, the regulator said in a statement.
"The list of foreign currencies whose official rates against the ruble are set by the Bank of Russia includes additionally: the UAE dirham, the Thai baht, the Vietnamese dong, the Serbian dinar, the New Zealand dollar, the Georgian lari, the Indonesian rupiah, the Egyptian pound and the Qatari riyal," the CB said.
The official rates of these foreign currencies against the ruble will be set by the Bank of Russia from January 18, 2023.
Prior to that, the regulator established the official exchange rates of the ruble against the dollar, euro and yuan. The official exchange rate is set daily, only on weekdays, with no obligation to buy or sell currency at that rate.
The Central Bank exchange rate is used to calculate customs duties, reporting, the calculation of personal income tax on dividends in foreign currency, etc.
From April 25, 2022, the official rates of the euro and the Chinese yuan to the Russian ruble are set by the Bank of Russia on the basis of transactions concluded on the currency market of the Moscow Stock Exchange from 10:00 to 15:30 Moscow time, similar to the official rate of the US dollar against the ruble. Previously, only the official US dollar to ruble exchange rate was set according to the exchange trading data, while the rates of other currencies were calculated by the method of cross-rates at the time of calculation.
GSV "Russia - Islamic world"
Photo: arodsje/Pixabay
Based on materials from TASS