Dentons

International Top 30 position: 4

Employee protection against currency risks?

By Anna Berlina 

‘Keep your income and expenses in the same currency’ — everyone knows this golden rule, even if they are not always able to stick to it. Foreign citizens working in Russia may receive their salary in rubles, but have expenses in their home country (such as mortgage payments) in a different currency, the euro for example. They may often pay their Moscow landlord in euros or dollars, as it is common in Moscow for rents to be set in foreign currency. Russian citizens often take out loans as the ruble equivalent of a foreign currency, as they believe such loans may be advantageous under certain circumstances. The fall in the ruble since the beginning of this year has hit all those whose foreign currency expenses when calculated in rubles have risen fast, while their ruble income has remained the same. As a result, working in Russia has become less attractive for many foreigners and led some to wonder whether there is a solution to the ruble salary issue and, if not, whether they should leave Russia and look for work in a country with more attractive pay conditions…

Click on the link below to read the rest of the Dentons briefing.    

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Dentons

View more briefings from Dentons

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

1 Fleet Place
London
EC4M 7RA
UK
http://www.dentons.com/

Turnover (€m): 209.5
Lawyers: 760
Partners: 183
Jurisdiction: Europe

Jobs