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Russia ditches the dollar in more than half of its exports

Section: Daily Dispatches

By Natasha Doff and Andrey Biryukov
Bloomberg News
Monday, April 26, 2021

The U.S. dollar share of Russian exports dropped below 50% for the first time on record in the fourth quarter following a multi-year Kremlin campaign to reduce the country's vulnerability to U.S. assets.

... Dispatch continues below ... 


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Most of the slump in dollar use came from Russia's trade with China, more than three-quarters of which is now conducted in euros, according to central bank data published Monday. The common currency's share in total exports jumped more than 10 percentage points to 36%, the data show. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2021-04-26/russia-ditches-the-do...

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