Forex trading in Russia has become a popular activity among Russian investors. This is mainly because of the low spreads that are offered by most forex brokers, which make trading the foreign exchange market a relatively affordable option for many people. There are a few key aspects of the market that should be understood before starting to trade, however. These include the’spot’ market and the futures market.

The spot market allows traders to buy and sell currencies instantly at the live market rate. This is the most common way to trade forex in Russia, and it is also the easiest for newcomers to get started with. The futures market, on the other hand, involves buying and selling contracts that will expire at a predetermined date in the future. This type of trading requires more knowledge and experience, but it can offer greater leverage and higher profits than the spot market. https://my-forex-group.com/

Amid Western sanctions and falling oil prices, Russia has pursued alternatives to manage its trade and reserves. The yuan and gold have proved useful, but both have introduced new vulnerabilities for Moscow. The yuan makes Russia dependent on Beijing’s goodwill, while the gold isn’t as sanctions-proof as Moscow expected. Amid a growing crisis, it’s now apparent that the country is looking to reintroduce currency controls in a bid to prop up the ruble.

Sources close to the discussions told Reuters that the Kremlin is preparing to order big exporters to sell their foreign earnings in domestic rubles. The move would be a step to stabilize the ruble, which has lost around a quarter of its value this year. The sources said the government could force companies to convert up to 90% of their revenues into rubles. The new rules would also impose bans on dividend payments abroad and limit import subsidies for companies.

Moscow would likely have to pay a steep price for the moves, according to the sources, but the government is under pressure to stem the ruble’s slide and restore investor confidence. The central bank raised its key interest rate to a record 12% last month, but the move seems to have done little to stop the bleeding.

In addition to a weakening ruble, the Russian economy faces rising inflation and a shortage of raw materials. In the short term, the reintroduction of capital controls may help to stabilize the ruble, but it will have serious consequences for the economy in the long run. Many of the country’s biggest exporters are already struggling to compete with foreign competitors, and the forced conversion of their revenue streams will make things even worse. This will ultimately hurt the Russian people, as the higher prices will lead to lower standards of living. In the long run, the reintroduction of these controls will only weaken Russia’s position as a global economic power.