20.12.2024, 07:46
The share of the ruble in settlements with Europe has grown record high
Source: OREANDA-NEWS
OREANDA-NEWS The share of payments in rubles for exports to Europe has grown record-high. This is reported by the Izvestia newspaper with reference to the data of the Central Bank
In the third quarter of 2024, the share of payments for supplies in Russian currency exceeded 65 percent. This is a record level for the entire observation period, since 2019 — at that time it was 19 percent. The percentage of settlements in the currencies of unfriendly countries dropped to a minimum of 27.9 percent.
Trade in rubles with Europe is supported by the need to pay for energy resources — in 2022, President Putin, by his decree, transferred payment for gas supplies to the region from toxic currencies to rubles. Against the background of a reduction in trade with the EU, energy exports support the Russian currency.
At the same time, settlements in rubles are also growing in trade with other regions: the domestic currency accounts for 68 percent of payments from Africa and 37 percent from Asia. In all regions, the share of the ruble in settlements with the Russian Federation was 41 percent, and in toxic monetary units (such as the dollar and euro) — 17 percent. Other payments are made in currencies of other countries.
In the third quarter of 2024, the share of payments for supplies in Russian currency exceeded 65 percent. This is a record level for the entire observation period, since 2019 — at that time it was 19 percent. The percentage of settlements in the currencies of unfriendly countries dropped to a minimum of 27.9 percent.
Trade in rubles with Europe is supported by the need to pay for energy resources — in 2022, President Putin, by his decree, transferred payment for gas supplies to the region from toxic currencies to rubles. Against the background of a reduction in trade with the EU, energy exports support the Russian currency.
At the same time, settlements in rubles are also growing in trade with other regions: the domestic currency accounts for 68 percent of payments from Africa and 37 percent from Asia. In all regions, the share of the ruble in settlements with the Russian Federation was 41 percent, and in toxic monetary units (such as the dollar and euro) — 17 percent. Other payments are made in currencies of other countries.
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