Russian non-financial firms boost FX sales 26.1% in September to $23.7B

Russian non-financial companies increased foreign currency sales by 26.1% month-on-month in September, reaching $23.7 billion, well above the 12-month average of $19.7 billion. This suggests heightened FX liquidity demand or regulatory pressure, potentially reflecting ruble stabilization efforts or corporate hedging. The move may signal increased confidence in the ruble or preemptive positioning ahead of sanctions, but the underlying driver remains unclear.