Currency regulation appeared in Russia in 1843, when during the reign of Nicholas I, was established solid exchange rate.In those days in the territory of almost all significant powers acted gold standard which lasted until the early 20th century.For instance, the summer of 1914 (the beginning of the First World War), one ruble had a total 0.77742 grams of gold and exchanged at the rate of 1.9 rubles to the US dollar, 46 cents for the German mark, 9.4 rubles per pound, andet al.
Today currency regulation and currency control designed to implement measures to stabilize the currency market of the Russian Federation, support the stability of the national currency and providing a unified policy.The main regulatory aspects in this area at this time are set out in the law № 173-FZ (adopted in 2003, December 10).It defines the basic concepts related to the field of foreign exchange regulation - the Russian currency, the internal (external) securities, specific bank accounts, foreign exchange transactions, foreign exchange.Also provides a list of persons who are recognized by residents / non-residents for the implementation of the Act.
currency regulation and currency control in the country are carried out by authorized bodies - the Central Bank and the Government of Russia (the function of foreign exchange regulation).They streamline transactions between residents, between non-residents, as well as calculations of residents and non-residents.Note that transactions with foreign currency units between residents are not permitted, subject to certain exceptions.iepay, for example, in an ordinary store dollars in our country today officially impossible.
In accordance with Article 4 of the Federal Law № 173-FZ to currency control authorities, in addition to the Central Bank and the Government of our country, are authorized institutions at the federal level.And the agents carrying out control of foreign exchange, according to the law numbered among the authorized banks.This also includes the tax and customs authorities, Vnesheconombank, and others.
currency regulation and currency control, implemented in the legislation governing the opening of accounts by residents in foreign banks, as well as order processing and accounts of non-resident deposits in Russian banks.Article 15 of the Federal Law № 173-FZ regulated how Russia can import and export of foreign coins and banknotes, the values recognized exchange, securities.
Currency regulation of foreign trade for the most part due to the fact that, in accordance with Chapter 3 of the Federal Law № 173-FZ residents should receive payment currency for some contracts with non-residents, passports transaction and sell a certain portion of foreign currency earnings.Today, this part is 30 percent and sold no later than seven working days from the time of admission to the account of a resident.Residents in this case recognized legal entities and individual entrepreneurs.
currency regulation and currency control provide for certain obligations and rights of participants in this process.In particular, residents and non-residents may offset the damage that they have suffered acts of foreign exchange controls, as well as the relevant authorities are obliged to provide information and documents to track and follow the instructions of the detection of any infringements.
