Russia’s Ruble Becomes Main Currency For Settlements Between Russia, Europe In 2024

MOSCOW, Feb 18 (Bernama-Sputnik/RIA Novosti) -- The ruble took a record share in Russia's foreign trade with Europe last year, an RIA Novosti analysis of Central Bank of Russia data showed.

The ruble took 60.3 per cent in payments for Russian exports and 54.5 per cent for imports. In 2023, the share was less than half - European companies paid for 49.3 per cent of goods and services from Russia in rubles and received 47.2 per cent of their export receipts in rubles.

The Russian currency also dominated in settlements with African countries - 55.4 per cent of payments for exports to Russia and 48.8 per cent for imports. At the same time, the currencies of Asian countries dominate in trade between Russia and Asia.

Most often, "toxic" currencies - the euro or the dollar - are used in trade with countries of the American region. Thus, last year, they were used to pay for 67.5 per cent of Russian exports and 64.7 per cent of imports.

--BERNAMA-SPUTNIK/RIA NOVOSTI