Structural Transformation of the Russian Foreign Exchange Market: Dedollarization, Decentralization, Delocalization

V. Yu. Mishina () and L. I. Khomyakova
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V. Yu. Mishina: Institute of Economic Forecasting, Russian Academy of Sciences
L. I. Khomyakova: Interstate Bank, Moscow, Russia; Financial University under the Government of the Russian Federation

Studies on Russian Economic Development, 2023, vol. 34, issue 3, 372-380

Abstract: Abstract— The article discusses the key trends in the development of the Russian foreign exchange market in 2022 – dedollarization, decentralization, and delocalization. The authors analyze the structure of foreign exchange transactions, pointing to its change, which occurred under the influence of extreme factors, which include sanctions against the Russian Federation in general and financial market participants in particular. The analysis is confirmed by statistical data on transactions in the foreign exchange market. Proposals were made for the development of regulation in order to further stimulate foreign exchange transactions and settlements with friendly countries.

Keywords: foreign exchange market; dedollarization; conversion operations; settlements (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1134/S1075700723030103

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