Page 44 - RusRPTDec19

5.2.2​ Current account dynamics
Russia's current account surplus reached $65.1bn in 10m19,​ according to preliminary monthly statistics, up from $57.2bn in 9m19, which implies a $7.9bn surplus in October.
However, the YTD surplus was still smaller than last year's $88.6bn (as of end-October), which was mostly attributable to a decline in exports, which was in turn due to lower oil prices.
On the financial side, capital outflow from the private sector reached $31.6bn in 10m19 and approximately $7bn in October. However, October's outflow was partly compensated for by an inflow into the public sector, as foreign investors bought around $3.5bn of government bonds.
The CBR continued its FX interventions, buying another $4.3bn of FX in October. Of this, $3.3bn was on behalf of the Finance Ministry in accordance with the budget rule, while the other $1bn was the CBR's own purchases.
44​ RUSSIA Country Report​ December 2019 ​ ​www.intellinews.com