Alexei Zabotkin, Deputy Governor of the Central Bank of Russia, said that Russian exporters’ balances in their rupee accounts are insignificant compared to the total volume of exports from the Russian Federation. At the same time, these balances are also reduced. This has been reported Interfax.
According to Zabotkin, there are some calculations in rupees, but their share is small relative to all exports. He also noted that Russia’s imports from India are not zero, so the currency of payment for exports is not directly related to the direction of supply.
Former Finance Minister Mikhail Zadornov suggestedHe said the “hanging” of the rupees was one of the reasons the ruble weakened. According to him, Russia supplies India with oil worth 30 billion dollars in six months and imports 6-7 billion dollars annually.
However, Zabotkin stressed that the amount of rupees in exporters’ accounts is much less than these estimates and cannot be compared with the export volume. Thus, the effect of “hanging” rupees on the ruble exchange rate is negligible.
Recently, the Central Bank did not exclude increase The key rate at the regulator’s meeting in September.
Previously India had asked the US defrost Money associated with Russian companies.