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The exchange rate is now directly controlled by the Central bank. Trade with China is very problematic - sometimes it takes several months to complete a single

• ivan_gammel 2y ago
  > The exchange rate is now directly controlled by the Central bank. This is false. I don’t know where you have got this, when all information is public and easily available. Here’s how the official exchange rate us determined: https://cbr.ru/Content/Document/File/162004/metod_6290-u.pdf https://cbr.ru/Content/Document/File/162004/metod_6290-u.pdf They just collect the data on OTC transactions from banks. The only way for Russian central bank to influence the exchange rate is to sell/buy and they do it only to stabilize the market when volatility is high. They do not have exchange rate targets and do not enforce specific rates in transactions.