Current Trends in the Development of Financial Infrastructure and Transformation of the Foreign Exchange Market in Russia

Victoria Yu. Mishina () and Lyubov I. Khomyakova ()
Additional contact information
Victoria Yu. Mishina: Institute of Economic Forecasting of the Russian Academy of Sciences, Moscow, Russian Federation
Lyubov I. Khomyakova: Financial University under the Government of the Russian Federation, Moscow, Russian Federation

Finansovyj žhurnal — Financial Journal, 2024, issue 4, 8-23

Abstract: The article analyzes the main changes in the Russian currency market in the context of modern realities — unprecedented geopolitical pressure, changes in the financial, currency and payment landscape under the influence of sanctions. The purpose of the article is to study the directions of ruble settlements, financial integration and trade in currencies of friendly countries in response to structural changes in the Russian currency market. A significant decrease in the share of the dollar in international payments, reserves and transactions in the foreign exchange market is noted. Much attention is paid to the current trends of dedollarization and diversification of financial markets, which the exchange infrastructure has developed under the influence of difficult external conditions. The authors conducted a study to answer the debatable question of whether the rise in popularity of national currencies was natural or accidental. They support their conclusions with historical statistical data on transactions in the foreign exchange market.

Keywords: foreign exchange market; currency market; conversion operations; settlements; ruble; integration; friendly countries (search for similar items in EconPapers)
JEL-codes: F02 F31 G15 G20 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.finjournal-nifi.ru/images/FILES/Journa ... ii/01_4_2024_v16.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:240401:p:8-23

DOI: 10.31107/2075-1990-2024-4-8-23

Access Statistics for this article

Finansovyj žhurnal — Financial Journal is currently edited by Vladimir S. Nazarov

More articles in Finansovyj žhurnal — Financial Journal from Financial Research Institute, Moscow 125375, Russia Contact information at EDIRC.
Bibliographic data for series maintained by Gennady Ageev ().