Russia tells state exporters to sell forex revenues to help ruble: paper

Russian Prime Minister Dmitry Medvedev has signed an order obliging the country's largest state exporters to sell part of their foreign currency revenues to help stabilise the rouble, Kommersant daily newspaper said on Tuesday, citing sources.

The paper added that in the coming two months, companies may provide the market with around $1 billion per day in total, which along with other measures taken by the central bank last week should help to curb volatility.

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The paper added that the government has sent orders to gas firm Gazprom, oil firms Rosneft and Zarubezhneft and diamond producer Alrosa. The ruble gained around 3 percent versus the U.S. dollar on Tuesday.

The government was not immediately available for comments.

The Russian central bank said on Tuesday it would hold consultations with exporters on hard currency revenue sales aimed at maintaining stability on foreign exchange market.

"Steady forex revenue sales during the year is beneficial both for the support of forex market stability and for hedging risks of exporting companies," the central bank told Reuters.

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