Page 83 - RusRPTFeb23

source: CBR
7.1 FX issues
The Bank of Russia starts setting official rates of the ruble against nine more foreign currencies from January 18, the regulator said. "The UEA dirham, the Thai bath, the Vietnamese dong, the Serbian dinar, the New Zealand dollar, the Georgian lari, the Indonesian rupiah, the Egyptian pound, and the Qatari rial were additionally included in the list of foreign currencies, with their official rates against the ruble set by the Bank of Russia," the Central Bank said. Official rates of mentioned currencies against the ruble will be set by the Bank of Russia from January 18, 2023.
Russia is considering accepting payment for wheat exports to its largest customer Egypt in rubles instead of other major currencies in a move designed to diversify its trade relations with foreign countries, Amwal El Ghad newspaper reported statements made to the press by Deputy Prime Minister Viktoria Abramchenco, who is responsible for the agro-industrial complex and natural resources. Egypt is the world’s largest wheat importer, sourcing 80% of its requirements from Russia. Russia has maintained its long-standing position as the principal wheat supplier to Egypt in the period between July-December 2022, shipping 5.9mn tonnes. In the past, Egypt paid more than $3bn in hard
83 RUSSIA Country Report February 2023 www.intellinews.com