Nabiullina: more than 40% of Russian exports are paid in rubles

Russia continues the transition to national currencies in trade with other countries, already 41% of Russian exports were paid in rubles. This was told by the chairman of the Central Bank Elvira Nabiullina at press conferences based on the results of the meeting of the Board of Directors of the regulator.

“We are really moving towards settlements mostly in national currencies, including in rubles. According to April data, 41% of our exports are paid in rubles,” she said.

The Chairman of the Central Bank also pointed to the high volumes of sales of the foreign currency part of the proceeds despite its less even income. Thus, in the first four months, the largest exporters sold around 78% of foreign exchange earnings.

At the same time, Nabiullina noted the existence of problems with settlements in the national currencies of other countries. They arise, as a rule, due to an imbalance in trade (according to the head of the Central Bank, Russia has it with many countries) or difficulties with the conversion of the national currencies of other countries.

At the end of May, Russian Foreign Minister Sergei Lavrov declaredthat the transition to national currencies in trade will have a healing effect on the world economy. “This is an objective process, it will gain momentum,” he said at the time.

On May 24, during his speech at the plenary session of the Eurasian Economic Forum, Russian President Vladimir Putin noted that Moscow continues work on the transition to settlements in national currencies and intends to “even more actively” make efforts for a “full-fledged transition to national currencies”. At the same time, the head of state said that the “collapse” scenario for the Russian economy would not come true.