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Russia mulls cross-border ‘Tobin’ tax

Russia is considering ways to discourage speculative currency traders from driving up the ruble exchange rate, including a tax on cross-border currency transactions, reports the WSJ citing a central bank official. Such a plan would put Russia in line with other commodity-exporting economies including Brazil and Indonesia, which view inflows of speculative money as a threat to the profitability of their raw-materials exporters.

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