The share of the ruble in trade with other countries has dropped to a record level

The share of the ruble in payments for exports from the Russian Federation to other countries decreased in November 2023 to 33.8%, according to the latest statistics from the Central Bank of the Russian Federation, which Izvestia reviewed on January 22. This is a record low since August 2022, when it was 33.2%. In October 2023, the ruble accounted for 38.1%.

As for the currencies of unfriendly countries, their share in November was 26.8%, and others - 39.4%. At the same time, payments in rubles for exports with Africa (from 42.8 to 59%), the Caribbean (from 89.6 to 97.2%), and with Europe (from 51.6 to 52%) increased.

Russia will try to develop the trend towards internationalization of the ruble, says Associate Professor of the Department of State and Municipal Finance of the Russian Economic University. G. V. Plekhanova Elena Voronkova. This is due to the desire to avoid the country and currency risks that the Russian Federation has faced in recent years, she explained.

Earlier, on December 6, it was reported that European countries in September 2023, when making payments to Russia for its exports, mainly used the ruble. As follows from the statistics of the Central Bank, during this period the Russian national currency accounted for 53.6% - the figure was a record since at least January 2022 (10.7%). Antonina Levashenko , head of the Russian Center for Competence and Analysis of OECD Standards at RANEPA, explained that the ruble has taken a dominant position in settlements with Europe due to the decree that unfriendly countries must pay for gas in Russian currency.