Foreign Currency and Russian Ruble: What Does the Balance of Payments Tell Us? | Zendy

Alexandra Bozhechkova | Zendy; Павел Трунин | Zendy

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Foreign Currency and Russian Ruble: What Does the Balance of Payments Tell Us?

Author(s) -

Alexandra Bozhechkova,

Павел Трунин

Publication year - 2016

Publication title -

ssrn electronic journal

Language(s) - English

Resource type - Journals

ISSN - 1556-5068

DOI - 10.2139/ssrn.2781870

Subject(s) - balance of payments , currency , russian economy , balance (ability) , international economics , monetary economics , economics , payment , business , financial system , economic policy , finance , economic system , medicine , physical medicine and rehabilitation

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.

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