Foreign Currency and Russian Ruble: What Does the Balance of Payments Tell Us?
Russian Economic Developments. Moscow, 2016, No. 5, pp. 9-12
4 Pages Posted: 19 May 2016
Date Written: May 19, 2016
The BOP (Balance of Payments) statistics for Q1 2016 show considerable shrinkage of the current account surplus due to a decline in exports while imports saw their decline rate slow down. At the same time, the private sector saw capital outflow decrease strongly. As a result, even though the trade balance dropped, the rouble did not depreciate. Moreover, the rouble exchange rate rebounded to levels seen in the fall of 2015 as crude prices went up.
Keywords: Russian economy, foreign currency, exchange rate balance of payments
JEL Classification: P24, E52
Suggested Citation: Suggested Citation