The quarterly share of currencies of hostile countries, i.e. the US dollar and the euro, in payments for exports fell below 20% for the first time since 2019, to 17.6%. This is 14.7 percentage points lower than the same figure last year. At the same time, in payments for imports, the share of the dollar and the euro remains at 22.4% (the share of friendly currencies is 35.7%).
Author:
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According to the Central Bank data cited by RBC, the maximum share of friendly countries’ currencies (yuan, tenge, rupees, dirhams, etc.) in exports is 42.4%. When it comes to paying for imports, the Russian ruble is in the lead in terms of share – 42% (for the first time above 40%).
The lowest share of hostile currencies in European exports is 28.7%, the highest in American exports – 74%. Otherwise, the shares of currencies were distributed as follows:
- Exports to Europe – hostile currencies – 28.7%, ruble 60.5%,
- Exports to Asia: hostile currencies – 14.7%, friendly – 49.5%, ruble – 35.8%,
- Exports to the United States – hostile currencies – 74%, ruble – 23.3%.
- Imports to Asia – friendly currencies – 48.9%, ruble – 37.1%,
- Imports to Europe: ruble: 55.5%, hostile currencies: 40.9%.
The main reasons for the reduction in the share of the dollar and the euro in the calculations are obvious to all experts: the increase in sanctions pressure and the “reorientation of Russian foreign trade”. Trade in national currencies, in turn, reduces the risks of sanctions and becomes a solid basis for maintaining trade relations.
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
