Rus News Journal

The Central Bank about retail trade on currency

Dollar for a door does not hurry up

Yesterday the letting out editor Xenia Mahnenko has promised to you to inform in the nearest number of a detail concerning the order of the Central bank of Russia on a realisation order the Russian enterprises of the goods and services for HARD CURRENCY according to the decree of the president from October, 27th of this year fulfilling its promise, I offer readers the comment of expert VADIM BARDIN.
the letting out editor

Rate of changes in a mode of use of foreign currency in retail goods turnover, no less than character of these changes, is caused by ambiguous estimations. In the comment to the decree of president Yeltsin About realisation to citizens in territory of the Russian Federation of the goods (works, services) for foreign currency from October, 27th (see #18), the cardinal direction of steps carried out in this sphere - transfer of currency trade into rouble calculations has been noted. The new order established by bank, basically confirms this conclusion. It directly provides that the trading organisation should establish the prices for the goods realised for foreign currency both in currency, and in roubles, independently defining course parities, and the buyer has the right to choose the payment form. However softness orders allows, in - the first, to consider it as intermediate and, in - the second, on - new to place accents in an estimation of a policy of bank.
the maintenance of the bank of an order established by the order breaks up on two parts. The first part concerns actually the mechanism of currency and rouble calculations. Besides already resulted central position, the document provides that the goods of foreign manufacture imported into Russia and paid in HARD CURRENCY under the clearing settlement according to the contract between trading organisation with foreign firm can be sold for foreign currency - the supplier or the intermediary only. The goods bought in Russia or made by trading organisation - the resident, realisations only for roubles are subject.
introduction of a new order means a total re-registration of the organisations having the licences of the Central bank on the organisation of retail trade for foreign currency. This purpose explains precipitancy from which after the presidential decree the bank order has followed. And the requirement about a re-registration is formulated so that licences for realisation of the goods for the HARD CURRENCIES which have been given out till July, 1st, 1992, become void.

C on July, 1st the Central bank, leaning against Yeltsin`s decree About foreign trade activities liberalisation dated still on November, 15th, 1991, actually declared the moratorium on delivery of corresponding licences.

the bank will inform terms of a re-registration in addition. Thus its territorial administrations before reception of corresponding instructions will not give out new permissions to trade and granting of services for HARD CURRENCY.
it is possible to tell that today for the Central bank an order much more important foreign currency uses . This position, to put it mildly, not quite coincides with a line proclaimed the president in parliament on October, 6th and spent by the government. Not casually on October, 29th, in day of coming into force of the order of the Central bank, Egor Gaydar, addressing to members of parliament, has declared that would like to deduce completely HARD CURRENCY from the reference in the Russian market, and has complained that regulation of means of payment is carried to the competence of the Central bank accountable to the Supreme body, instead of the government. Possibly, after prompting an order the Central bank nevertheless will pass to active actions on the termination of a currency diarchy in home market.