Declining exports, higher imports main factor for ruble rate move — Central Bank chief

Business & Economy July 21, 2023, 18:26

Financial account flows is another driver for the ruble rate, Elvira Nabiullina noted

MOSCOW, July 21. /TASS/. The main factor for the ruble rate moves in June and July of this year was lower exports against higher imports, Central Bank chief Elvira Nabiullina said on Friday after the Board meeting.

"An increase of demand influenced quick recovery of imports, which contributed to ruble weakening along with the decline in exports," she said.

Financial account flows is another driver for the ruble rate, Nabiullina added.

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