Russia’s Balance of Payments Q1 2019: Rouble has Potential for Appreciation

Monitoring of Russia's Economic Outlook. Moscow. IEP. 2019. No. 7, pp. 5-7

3 Pages Posted: 14 May 2019

See all articles by Alexandra Bozhechkova

Alexandra Bozhechkova

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

A Lavrisheva

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Pavel Trunin

Gaidar Institute for Economic Policy

Date Written: May 14, 2019

Abstract

Russia’s positive balance of trade increased in Q1 2019, compared to the previous years’ same period, on the back of decline in imports (a major contributor to the increase) induced by rouble depreciation. BoP data show that residents invested more in foreign assets as well as the OFZ bond market became more appealing to non-residents. The Russian rouble has potential for further strengthening, although its depreciation cannot be ruled out if new external shocks occur.

Keywords: Russian economy, BoP

JEL Classification: F19

Suggested Citation

Bozhechkova, Alexandra and Lavrisheva, A and Trunin, Pavel, Russia’s Balance of Payments Q1 2019: Rouble has Potential for Appreciation (May 14, 2019). Monitoring of Russia's Economic Outlook. Moscow. IEP. 2019. No. 7, pp. 5-7. Available at SSRN: https://ssrn.com/abstract=3387997 or http://dx.doi.org/10.2139/ssrn.3387997

Alexandra Bozhechkova

Gaidar Institute for Economic Policy ( email )

Gazetny pereylok 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

A Lavrisheva

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

Pavel Trunin (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

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