Russia: The share of the ruble in exports has caught the dollar

In the “Finance Sector and Instruments Outlook” report of the Central Bank of Russia, it was reminded that Russia started to receive payments in rubles for natural gas shipments to unfriendly countries in May 2022.

In the statement, which stated that the share of the ruble in exports increased significantly thanks to the said step, the share of the national currency (ruble) in exports exceeded 30 percent as of the end of the year, catching the share of the dollar and significantly surpassing the euro.

Pointing out that the share of the dollar and euro in exports has decreased below 50 percent in total, it was noted in the statement that this situation reflects the general structure of Russia’s foreign trade and various risks that continue to exist in trade for Russian companies.

In the statement, it was emphasized that companies and citizens have increased the shares of friendly countries’ currencies, especially the yuan, in their deposits, but they still have a significant share compared to the yuan, despite the decrease in the share of the dollar and euro.