The 50% decrease in the share of imports was most effective in the strengthening of the ruble exchange rate. About this “Prime Minister” declaration Vasily Karpunin, Head of Information and Analytical Content at BCS World of Investments.
“The ruble is under the influence of several factors at once. First of all, this is a reduction in the share of imports, associated both with restrictions on the import of certain goods into the country, and with the disruption of supply chains. “According to some estimates, import volume could be reduced by almost 50% in April,” he said.
According to him, because of this, there is a sharp decrease in the demand for foreign currency from importers from Russia. At the same time, the country continues to export non-sanctioned goods abroad. The high prices of raw materials provide the inflow of large amounts of foreign currency.
He added that the special currency control measures taken by the Central Bank after March and other factors, along with Western sanctions, led to a multiple reduction in the “functionality” of the dollar and euro.
May 25, Press Secretary of the President of Russia Dmitry Peskov declarationHe said that the process of strengthening the ruble is constantly discussed at economic meetings with President Vladimir Putin. Peskov added that the Russian government is also following the process closely.
Source: Gazeta
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