International payments conducted in national currencies are steadily gaining traction across global trade, including yuan-denominated transactions with partners in China. Yet industry observers caution against overemphasizing one currency, warning that the ruble should play a central role in Russia’s foreign trade. This view comes from Andrey Loboda, an economist and communications director at BitRiver, who stressed that a healthy balance between the ruble and the yuan supports the real assets behind Russia’s economy and strengthens its market credibility in international dealings.
According to Loboda, the ruble remains undervalued despite ongoing geopolitical tensions that heighten risk in global markets. He notes that a dollar priced above seventy-five rubles presents an attractive window for Russia, given the country’s strengths in metallurgy, agriculture, and energy. In these sectors, key assets are highly tradable and can be converted into rubles through foreign trade channels. Such convertibility not only sustains the ruble but also shores up household confidence and enhances Russia’s standing in the global economy.
He advocates a measured, balanced strategy for currency use in trade. In his view, a meaningful portion of trade with China, typically targeted around a quarter to a third of total agreements in the largest Asian partners, offers an ideal mix for Russia. This approach preserves diversification, mitigates risk, and reinforces practical economic links without relying solely on any single currency.
Recent market observations show the ruble’s movements in the broader context of foreign exchange dynamics. While the dollar, euro, and yuan experience shifts driven by both market sentiment and macroeconomic developments, the priority remains maintaining stable, predictable pricing that supports export competitiveness and import reliability. Analysts emphasize that sustained currency stability, backed by tangible assets in mining, farming, and energy, helps anchor consumer prices and public confidence over the longer term. This aligns with the view that currency balance, underpinned by real goods and services, can contribute to a more resilient economy in times of financial stress. [Citation: Market and economic commentary from industry analysts and expert interviews]