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Net sales of foreign currency by Russian top exporters down 30% in September

The Bank of Russia noted high demand in the currency market for yuan funding, which remained high against the concurrent decline in the yuan offer

MOSCOW, October 8. /TASS/. Net sales of foreign currency by Russia’s major exporters fell by 30% monthly in September and totaled $8.3 bln, the Central Bank says in its financial market risks review.

The decline in net sales was related to the change in the structure of export payments, where payments in rubles started playing the continuously greater role, the regulator informed.

The Bank of Russia also noted high demand in the currency market for yuan funding, which remained high against the concurrent decline in the yuan offer.

Individuals shifted from net purchases of the foreign exchange to net sales and sold the foreign currency worth 55 bln rubles ($569.4 mln) in September 2024 for the first time since last August, the regulator added.

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Central Bank of Russia

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