Russia banks importing most USD since 2014

RUSSIA / FSU POLITICS - In Brief 27 May 2020 by Alex Teddy
On May 27 Russian Central Bank data revealed that Russia is importing more USD than any time since sanctions were imposed. Russia brought in USD 5 billion and EUR 1 billion in March 2020.The RUB tumbled 20% in the first half of March. That was 80.8 to the USD which was the RUB's lowest value since January 2016.The amount of USD imported in March was 10 times higher than in February 2020. People in Russia are intensely conscious that their currency can lose value very fast. There have been severe devaluations in the past 30 years.

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