Template-Type: ReDIF-Article 1.0
Author-Name:Bozhechkova Alexandra
Author-Name-First: Alexandra 
Author-Name-Last:Bozhechkova 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Author-Name:Trunin Pavel
Author-Name-First: Pavel 
Author-Name-Last:Trunin 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Title: FOREIGN CURRENCY AND RUSSIAN RUBLE: WHAT DOES THE BALANCE OF PAYMENTS TELL US? 
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.


Classification-JEL: P24, E52  
Keywords:  INFLATION AND MONETARY POLICY,  Russian Economy
Year: 2016
Issue:5
Month: May
Pages: 9-12
File-URL: https://iep.ru/files/RePEc/gai/recdev/recdev-2016-5-632.pdf
File-Format: application/pdf
File-Function: Revised version, 2016
Handle: RePEc:gai:recdev:recdev-2016-5-632