FOREIGN CURRENCY AND RUSSIAN RUBLE: WHAT DOES THE BALANCE OF PAYMENTS TELL US?

Alexandra Bozhechkova and Pavel Trunin

Russian Economic Development, 2016, issue 5, 9-12

Abstract: The BOP (Balance of Payments) staƟ sƟ cs 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 ouƞ low decrease strongly. As a result, even though the trade bal ance 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: INFLATION AND MONETARY POLICY; Russian Economy (search for similar items in EconPapers)
JEL-codes: E52 P24 (search for similar items in EconPapers)
Date: 2016
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