Page 112 - RusRPTMar23

(average)
source: CBR
Currency (units per USD) (average)
64.6
64.7
62.9
66.5
73.8
73.6
76.2
74.3
74.2
72.6
73.6
The Russian ruble struck its weakest mark since late April on February 14, hurt by lower foreign currency revenue inflows from hydrocarbon exports and a continued recovery in imports as companies build new supply chains. The ruble was 0.1% weaker against the dollar at 73.93, having hit 73.9850 during the session, its lowest point since April 25. The Russian currency lost 0.6% to trade at 79.52 versus the euro and shed 0.3% against the Chinese yuan to 10.83.
7.1 FX issues
Credit Suisse, the Swiss bank, has reportedly blocked or frozen more than a third of Russian assets registered in the country, worth over $19bn, according to a report by Swiss newspaper SonntagsZeitung on February 12. The bank's report revealed that around $50bn worth of Russian assets are registered in Switzerland. While only around 4bn Swiss francs ($4.35bn) worth of assets were frozen due to Swiss sanctions, the remaining 13.6bn francs ($14.8bn) are believed to belong to individuals on blacklists from
112 RUSSIA Country Report March 2023 www.intellinews.com