The share of export revenue in national currencies returned to Russia is approaching 90%
Published
According to BFM.ru, the share of export revenue in national currencies that is returned to Russia is approaching 90%. This refers to money that Russian companies receive from selling goods abroad and which then flows into accounts in Russia.
National currencies primarily means the ruble, as well as the currencies of other countries that are used in export settlements. For the Russian economy, it matters in which currency and in what volume exporters receive their money. Returning revenue to the country helps support the currency market and the stability of the ruble.
Following the restrictions that emerged in recent years, companies have increasingly begun to use national currencies in international settlements. This is linked to changes in the operating conditions of banks and to the fact that many partners have shifted to other payment mechanisms.
Experts typically note that a high share of returned revenue may influence the exchange rate of the national currency and the state of foreign trade. However, final conclusions about the consequences depend on the further dynamics of exports and on decisions to be made by banks and government authorities.
Sources: BFM.ru
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