Changes in the currency legislation to affect foreign trade participants

Authors

  • Olga Vladimirovna Leonova Russian Foreign Trade Academy

Keywords:

currency control, currency regulation, transaction certificate, certificate of currency transactions, bank control of currency transactions

Abstract

In the article the author considers the new amendments to the currency control and currency regulation coming into force since January, 2018 abandoning the use of a transaction certificate. The Certificate of currency transactions, which earlier was to be filled out with the resident as the document reflecting currency movements on his traditional currency accounts, also becomes invalid. As a result the document flow between the companies and authorized banks becomes is simplified, since the bank is responsible for the bulk of it - not only for the control of currency transaction of the client, but also for registration of the foreign trade operations in the sheet of bank control.

Author Biography

Olga Vladimirovna Leonova, Russian Foreign Trade Academy

Candidate of Economic Sciences, Professor
Place of work, post: Russian Foreign Trade Academy, Department of Finance, Monetary and Credit Relations, Professor

Published

2024-02-08

How to Cite

Leonova, O. V. (2024). Changes in the currency legislation to affect foreign trade participants. Russian Foreign Economic Journal, (11), 26–31. Retrieved from https://journal.vavt.ru/rfej/article/view/2295

Issue

Section

Foreign trade

Most read articles by the same author(s)

1 2 > >>