(Bloomberg) -- Russia has extended mandatory FX sales for major exporters by one year, a decision the government said will help to maintain a stable ruble.

The Russian government has kept the main parameters broadly unchanged: requirements still apply to 43 groups of exporter companies, which are obliged to credit at least 80% of FX proceeds to the accounts at Russian banks within 120 days of receiving the funds. 

Mandatory FX sales were initially introduced in October and set to last until the end of April. The Russian government said the measure has proven effective and helped to stabilize the domestic FX market. 

The ruble has strengthened by about 8% since the requirement was introduced. 

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