Russia has raised its wheat export tax by 41%, from 1,328.30 rubles to 1,872 rubles ($333) per metric ton, effective October 16, 2024. This change comes as the Agriculture Ministry held a private meeting with major exporters to discuss this year’s sales. The tax hike reflects higher prices for Russian wheat in Saudi Arabia’s recent […]
Related Posts
Milei’s Vision: Argentina’s Path to Flexible Exchange Rates
Argentina’s President Javier Milei has unveiled plans to adopt a flexible exchange rate system after lifting capital controls. This move aims to stabilize the economy and regain access to international capital markets. Milei, who took office in December 2023, inherited an economy with over 200% annual inflation and depleted central bank reserves. His administration pledges […]
Yen’s Historic Decline Triggers Intervention Speculation
After the Bank of Japan (BOJ) moved away from its negative interest rate policy, the yen fell to a 34-year low, nearing 152 against the dollar. This notable decline has led to speculation about government intervention and the possibility of an early rate hike to stabilize the currency. The yen’s swift drop, influenced by the […]