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10 Mar, 14:14

Exporters boost net forex sales by 25% in February — Bank of Russia

The ratio of net forex sales to largest exporters’ foreign currency export revenues amounted to 102% in December 2024, having increased by 26 percentage points compared to November 2024, the Central Bank said

MOSCOW, March 10. /TASS/. Exporters boosted net sales of foreign exchange by 25% in February 2025 to $12.4 bln, which additionally supported the ruble’s positive dynamics, according to files released by the Bank of Russia.

"The ruble’s positive dynamics was also supported by an increase in net forex sales by exporters (by 25% compared with the previous month to $12.4 bln). Meanwhile the US dollar’s weakening against the main global currencies in the same period was minor. <…> Foreign cash purchase/sale spreads have narrowed after a certain extension in early 2025," the regulator said.

The ratio of net forex sales to largest exporters’ foreign currency export revenues amounted to 102% in December 2024, having increased by 26 percentage points compared to November 2024, the Central Bank added.