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Foreign Currency And Russian Ruble: What Does The Balance Of Payments Tell Us?

Author

Listed:
  • Bozhechkova Alexandra

    (Gaidar Institute for Economic Policy)

  • Trunin Pavel

    (Gaidar Institute for Economic Policy)

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.

Suggested Citation

  • Bozhechkova Alexandra & Trunin Pavel, 2016. "Foreign Currency And Russian Ruble: What Does The Balance Of Payments Tell Us?," Russian Economic Development, Gaidar Institute for Economic Policy, issue 5, pages 9-12, May.
    • Handle: RePEc:gai:recdev:recdev-2016-5-632
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    File Function: Revised version, 2016
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    More about this item

    Keywords

    INFLATION AND MONETARY POLICY; Russian Economy;

    JEL classification:

    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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