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Balance of Payments in Q2 2021
[Платежный Баланс Во Втором Квартале 2021 Г]

Author

Listed:
  • Bozhechkova Alexandra

    (Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration)

  • Knobel Alexander

    (Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration)

  • Trunin Pavel

    (Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration)

Abstract

In Q2 2021, the current account balance amounted to $19.9 bn, vs $1.6 bn in Q2 of last year. Russia’s trade balance demonstrated a significant increase relative to Q2 2020. Net capital outflow from the private sector declined on the same period of last year, while the global economy was recovering, and the Bank of Russia was tightening its monetary policy. The regulator continued its foreign currency purchases within the framework of the fiscal rule, which produced an increase in reserve assets by $8.3 bn in Q2 2021. International reserves increased to $591.7 bn. According to the period-end results of Q2 2021, the ruble exchange rate against the US dollar gained 4.4%, rising to Rb72.4.

Suggested Citation

  • Bozhechkova Alexandra & Knobel Alexander & Trunin Pavel, 2021. "Balance of Payments in Q2 2021 [Платежный Баланс Во Втором Квартале 2021 Г]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 8, pages 4-8, August.
    • Handle: RePEc:gai:recdev:r2182
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    Citations

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    Cited by:

    1. Volovik Nadezhda & Izryadnova Olga, 2021. "Структура Экономического Роста: Внешний Спрос В Первом Квартале 2021 Г," Russian Economic Development (in Russian), Gaidar Institute for Economic Policy, issue 7, pages 4-9, July.
    2. Volovik Nadezhda & Izryadnova Olga, 2021. "Structure of Economic Growth: External Demand in Q1 2021 [Структура Экономического Роста: Внешний Спрос В Первом Квартале 2021 Г]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 7, pages 4-9, July.
    3. Astrid Ayala & Szabolcs Blazsek & Adrian Licht, 2022. "Score-driven stochastic seasonality of the Russian rouble: an application case study for the period of 1999 to 2020," Empirical Economics, Springer, vol. 62(5), pages 2179-2203, May.

    More about this item

    Keywords

    balance of payments; export; import; current account transaction; ruble exchange rate; outflow/inflow of capital; Bank of Russia;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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