Russian c-bank cuts commission on Forex purchases by individuals
The Central Bank of Russia today posted information regarding the fees for buying currencies via brokers.
The regulator said today that it had conducted some additional analysis of the situation and, in order to support competitive market conditions and to maintain financial stability, has decided to cut the commission for Forex purchases.
Effective March 4, 2022, the central bank is cutting the commission for Forex purchases by individuals via brokers from 30% to 12%. The regulator implements a commission of 12% of the amount of the transaction for business entities.
Last week, the Central Bank of Russia instructed all brokers to halt short selling via exchanges and OTC markets. The measures are effective February 24, 2022, 11am (Moscow time). The ban is valid until further notice.
The central bank also commenced interventions in the Forex market. The regulator is also carrying out operations for additional provisions of liquidity to the banking sector.