The Russian government announced on its website the adoption of a list of 31 friendly and neutral countries, including Algeria, whose banks will be allowed to trade in the foreign exchange market in Russia.
The list includes 8 Arab countries, including Algeria. In addition to Asian and African countries such as China, Indonesia, Pakistan and South Africa, European countries such as Serbia and Turkey, and American countries such as Brazil and Venezuela.
According to the local Sputnik agency, the country’s laws allowed only Russian citizens to trade foreign currencies . This limited the availability of liquidity in these currencies.
The new rules aim to increase the efficiency of direct conversion of currencies of friendly and neutral countries into the Russian ruble. To meet the Russian economy’s demand for payments in these currencies, the source adds.
List of countries whose banks are allowed to trade in foreign exchange markets in Russia
Algeria, Azerbaijan, Armenia, Belarus, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Bangladesh, Bahrain, Brazil, Venezuela, Vietnam, Egypt, India, Indonesia, Iran, Qatar, China, Cuba, Malaysia, Morocco, Mongolia, UAE, Oman, Pakistan, Saudi Arabia, Serbia, Thailand, Turkey, South Africa.
