Page 120 - RusRPTJun24

Cross-border transfers involving private citizens in the first quarter of this year amounted to $5.13 billion, according to Central Bank figures. That’s the amount of foreign currency Russians removed from the country. The figure is $388 million lower than the fourth quarter of last year, with high interest rates apparently encouraging people to save more in Russia.
In March 2024, the use of the ruble in settlements with European partners for goods and services exported by Russia, reached a record high, amounting to 58.5%. Over the past year, this figure increased by 10.8 percentage points, and over the month - by 9.6 percentage points. Data provided by the Central Bank of Russia. Statistics from the Russian Federal Customs Service show that deliveries to Europe in the first quarter of this year accounted for 15.2%, or $15.4bn, of the total volume of Russian goods exports. The Russian Central Bank regularly publishes data on the currency structure of payments for exports and imports in geographical areas: Asia, America, Africa, Europe, the Caribbean and Oceania. The publication of this information resumed in the summer of 2023 after a break of one and a half years. Previously, data was provided for the European Union, BRICS, CIS, as well as for major trading partners (China, Turkey, India, Belarus, Kazakhstan, etc.).
The Bank of Russia will significantly increase sales of yuan on the domestic foreign exchange market from May 8
According to the Ministry of Finance, oil and gas budget revenues (OGR) in April amounted to 1,229 billion rubles. (-6% m/m and +90% y/y), which is by 77
120 RUSSIA Country Report June 2024 www.intellinews.com