Transnistria and Gagauzia

​TRANSNISTRIAN GOVERNMENT DECIDES NOT TO CONVERT RUSSIAN ASSISTANCE MONEY ACCORDING TO OFFICIAL EXCHANGE RATE

30 september, 2016

The government of Transnistria has found a new method of replenishing the regional budget – by not converting the Russian rubles, coming as humanitarian assistance, according to the official exchange rate of the Transnistrian central bank. This rate has been preserved administratively at the level of 11.3 local rubles to US$1 for many years now, whereas the market exchange rate is higher by almost one-third. Now a governmental resolution has spared the central bank from the tragic necessity to convert the Russian currency at the official rate. As a result, the government has immediately got the possibility to raise the Russia-provided extras to pensions by 30 rubles a month – up to 175 rubles. However, converted into US dollars according to the market rate, this “Putin pension” has not at all grown but, on the contrary, has even shrunk a little.

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