Ruble as a currency for internationalsettlements: Problems and prospects

N. Gavrilov () and I. Prilepskiy ()

Voprosy Ekonomiki, 2017, issue 6

Abstract: The article studies recent trends in the international role of the ruble. It is demonstrated that, despite the rise in the share of ruble settlements in Russian foreign trade, as well as in nominal value of ruble transactions in foreign exchange markets, ruble’s position in the global currency system has generally deteriorated. The analysis of factors behind choice of settlement currency, as well as of country cases, shows that, for ruble’s role to rise in the future, Russian authorities need to, on the one hand, ensure macroeconomic stability and promote economic diversification; on the other hand, take special measures to develop settlement systems, enhance financial market infrastructure, expand the volume of trade finance and trade credit insurance denominated in rubles.

Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.vopreco.ru/jour/article/viewFile/314/314 (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:nos:voprec:y:2017:id:314

DOI: 10.32609/0042-8736-2017-6-94-113

Access Statistics for this article

More articles in Voprosy Ekonomiki from NP Voprosy Ekonomiki
Bibliographic data for series maintained by NEICON ().