Page 71 - RusRPTNov19

7.0 FX
RUSSIA -FX
2016
2017
2018
2Q17
3Q17
4Q17
1Q18
2Q18
3Q18
4Q18
1Q19
2Q19
Currency (units per EUR) (eop)
64.8
68.9
79.5
67.5
68.04
69.26
70.36
73.39
81.00
79.46
72.89
72.11
Currency (units per USD) (eop)
61.5
57.6
69.5
59.09
58.02
57.73
57.09
62.73
69.99
69.47
64.80
64.28
Currency (units per EUR) (average)
74.4
65.8
74.0
62.88
69.22
68.78
69.88
73.73
76.02
76.11
75.08
72.60
Currency (units per USD) (average)
67.2
58.4
62.7
57.14
59
58.41
56.87
61.783
65.45
66.68
66.08
64.56
source: CBR
Russia has lost $7.7bn of unrealised returns as it was cutting the US dollars from its Fx/gold reserves, Bloomberg estimated on October 14. While the Central Bank of Russia has cut its reserves in US dollar from 43.7% to 23.6% from March 2018 to March 2019, while increasing the share of euro from 22% to 30% and the share of yuan from 5% to 14%, making it the largest holder of CHY in the world. In the meantime, the US dollar would bring a return equivalent of $7.7bn over the period, according to Bloomberg estimates.
71 RUSSIA Country Report November 2019 www.intellinews.o