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From 2025 B2B transactions will cost $0,16 each, while individual customers will pay 0.3% of the total transaction sum when transferring to commercial accounts. Go to Source Powered by WPeMatico
Russian citizens will not be forced to use the digital ruble, and use of the CBDC will be a voluntary choice for people to make, Bank of Russia governor said last week. Go to Source Powered by WPeMatico
2025–2027 might still seem far away, but the Central Bank of Russia is preparing its CBDC for mass adoption by then. Go to Source Powered by WPeMatico
Document faces confirmation in the higher chamber of Russian parliament and, afterward, the President’s signature. Go to Source Powered by WPeMatico
The bill could be changed regarding debt operations, services for non-residents and the role of the central bank. Go to Source Powered by WPeMatico
Russia will start to purchase Chinese yuan for its international reserves as soon as this month, according to reports from Russian economists. While analysts state that the purchases will be small and symbolic in the beginning, these will supposedly demonstrate a turnaround in the economy of the country. Russia to Purchase Chinese Yuan for Reserves … Read more
Bank of Russia raised its forecast for the profits of Russian banks in 2023, expecting results that may break the 2021 record. This year’s high numbers are coming after 2022 became the worst annual period in seven years for the sanctioned Russian banking sector in terms of financial outcome. Banks in Russian Federation Headed for … Read more
Bank of Russia decided to maintain the interest rate at 7.5% amid moderate inflation, estimated at 2.5% on an annual basis in April, although this may change later this year. The monetary authority improved its forecast for the Russian economy and now expects growth entirely in positive figures, up to 2.0% for 2023. Bank of … Read more
Russia will increase its reliance on national currencies to settle payments for its energy resources, moving away from the US dollar, according to Russian Deputy Prime Minister Alexander Novak. Novak noted there is a great interest in acquiring Russian energy resources, leading Russia to accept more currencies for these settlements. Russia Aims to Settle Energy … Read more
The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already under development, the monetary authority unveiled. Digital Ruble Platform to Support Integration With Other CBDCs, Bank of … Read more
