CURRENCY POLICY AND DEDOLLARIZATION OF FOREIGN TRADE RELATIONS IN RUSSIA: PROSPECTS AND TRENDS
Abstract
The article appeals to the problems of the development of modern monetary policy in Russia, and above all with regard to the development of trade and economic ties between countries. Today, the imposed sanctions against Russia with a large scale of dollar payments have a significant negative impact on the country’s economy. At the same time, there is a dependence of the ruble rate on the prices of oil and gas resources. A floating exchange rate regime of the ruble against foreign currencies has been introduced, which is established in the foreign exchange market through supply and demand. The article describes the process of dedollarization of foreign trade relations, which is expressed in the stimulation of foreign trade payments in rubles, as well as exemptions for exporters using ruble payments.
Downloads
Metrics
References
Международные валютно-кредитные отношения / С. А. Лукьянов и др. Екатеринбург, 2015. С. 166210.
Заруба Е. А. Возможности совершенствования валютной политики Российской Федерации // Научный журнал. 2017. С. 43-45.
Динамика курса евро (EUR) по ЦБ РФ [Электронный ресурс]. URL: https://www.banki.ru/products/ currency/eur/.
Динамика курса доллара США (USD) по ЦБ РФ [Электронный ресурс]. URL: https://www.banki.ru/ products/currency/usd/.
Сайт Центрального Банка Российской Федерации [Электронный ресурс]. URL: http://www.cbr.ru.
Цена на нефть Брент (Brent) за 1990-2019 [Электронный ресурс]. URL: https://www.calc.ru/ dinamika-Brent.html.
Невзорова А. В. Валютная система и валютно-курсовая политика России на современном этапе // Научные записки молодых исследователей. 2017. № 6. C. 56-64.
Балашова О. Б., Беликова А. Н. Динамика международных резервов РФ // Известия ТулГУ. Экономические и юридические науки. 2016. № 2-1. C. 247-257.
Золотовалютные резервы России 1993-2019. Мировые финансы [Электронный ресурс]. URL: http://global-finances.ru/zolotovalyutnyie-rezervyi-rossii/.
Любский М. С. Российская политика валютного курса // Российский внешнеэкономический вестник. 2013. № 3. C. 48-58.
Яшина А. С. Возможные направления дедолларизации современных мировых финансов // Экономика и бизнес: теория и практика. 2019. № 3-2. С. 183-186.
Индия и Россия откажутся от использования доллара в международных сделках [Электронный ресурс]. URL: https://ktovkurse.com/valyuty/indiya-i-rossiya-otkazhutsya-ot-ispolzovaniya-dollara-v- mezhdunarodnyh-sdelkah.
REFERENCES
Krasavina, L. N., et al. (2000) International monetary and financial relations. Moscow, 326-332 (in Russian).
Lukyanov, S. А., et al. (2015) International monetary and credit relations. Yekaterinburg, 166-210 (in Russian).
Zaruba, E. A. Opportunities to improve the monetary policy of the Russian Federation // Scientific Journal: Collection of articles, 2017. p. 43-45 (in Russian).
Dynamics of the euro (EUR) rate. The Central Bank of the Russian Federation. URL: https://www.banki. ru/products/currency/eur/.
Dynamics of the US dollar (USD) rate. The Central Bank of the Russian Federation. URL: https://www. banki.ru/products/currency/usd/.
The Central Bank of the Russian Federation. URL: http://www.cbr.ru.
The price of Brent oil (Brent) for 1990-2019. URL: https://www.calc.ru/dinamika-Brent.html.
Nevzorova, A. V. (2017) Contemporary monetary system and exchange rate policy of Russian Federation. Scientific notes of young scientists, 6, 56-64 (in Russian).
Balashov, O. B. & Belikova, A. N. (2016) Dynamics of international reserves of the Russian Federation. Izvestiya Tula State University. Economic and legal sciences, 2-1, 247-257 (in Russian).
Gold and foreign exchange reserves of Russia 1993-2019. World Finance. URL: http://global-finances. ru/zolotovalyutnyie-rezervyi-rossii/.
Lyubsky, M. S. (2013) Russian exchange rate policy. Russian Foreign Economic Journal, 3, 48-58 (in Russian).
Yashina, A. S. (2019) Possible directions of dedollarization of modern world finance. Economy and Business: Theory and Practice, 3-2, 183-186 (in Russian).
India and Russia will refuse to use the dollar in international transactions. URL: https://ktovkurse.com/ valyuty/indiya-i-rossiya-otkazhutsya-ot-ispolzovaniya-dollara-v-mezhdunarodnyh-sdelkah.
Economics Profession Business is a golden publisher, as we allow self-archiving, but most importantly we are fully transparent about your rights.
Authors may present and discuss their findings ahead of publication: at biological or scientific conferences, on preprint servers, in public databases, and in blogs, wikis, tweets, and other informal communication channels.
Economics Profession Business (EPB) allows authors to deposit manuscripts (currently under review or those for intended submission to EPB) in non-commercial, pre-print servers such as ArXiv.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
