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Having declared Russia's readiness to do without hostile currencies, Putin gave ...

Currency crisis in

Having declared Russia's readiness to do without hostile currencies, Putin gave Russia a full crisis, the economist Vitaliy Shapran states. As a result, with a formally prosperous budget filling, the Kremlin has huge problems. A recent crisis in the foreign exchange market in the Russian Federation was presented by the Russians personally by Putin, who also advertised the US dollar.

If you take statistics for 2023, then the payroll of the Russian Federation in the first half of 2023 decreased by 68%, but it was still "+". However, in close examination, it turned out that it was not a plus, but a cross. They have an imbalance in export and import calculations in rubles (and other national currency, such as Rs, Drachm, etc. ) and foreign currency "unfriendly to the Russian Federation".

The example of the calculations in June 2023 shows that the trade balance of the Russian Federation was surplus: export exceeded imports by as much as $ 4. 9 billion. But when you deploy exports on currencies, it turns out that in the calculations in dollars and euros for export and import in June there was a shortage of $ 0. 174 billion, and the entire surplus was formed at the expense of calculations of rubles and other national currency.

There are also problems in trade with India, because the Rupees of the Russian Federation cannot be exchanged for dollars, and outside India, nothing to buy for them, so these rupees remained on paper, that is, simply raised in Indian banks. Let me remind you that it was Putin who demanded that the Russian Federation refuse to calculate in "damn dollars".

This state of affairs leads to the creation of imbalances in the markets of dollar rubles, Euro rubles, when the trade balance is surplus, but currency (VLC) is short. This problem has been added to the outflow of capital from the Russian Federation and the growth of budget deficits, subject to the inaccessibility of external sources of borrowing for the Government of the Russian Federation.

It is interesting to watch when all market participants know who is guilty of destabilization in the Russian Federation, but everyone is silent. I also mention how ours (some bloggers) lifted panic when the Putin insisted on the calculations of rubles and local currencies, and even someone gave an assessment that it was a strong course. In fact, it was a very dull move, because Russian exporters were kept in local currencies that could not deduce from the countries where they supplied exports.

And so it happened because exports and imports between the two specific countries are almost never equal to 0, and therefore the imbalance in the calculations is guaranteed. Therefore, such currencies are used for international payments as the US dollar, euro, ENA and pounds. In fact, the best advertisement for the US dollar and a group of reserve currencies could not come up. Now the whole world has seen that it happens from the effect of trading localization and separation from the world market.