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Structural Transformation of the Russian Foreign Exchange Market: Dedollarization, Decentralization, Delocalization

Author

Listed:
  • V. Yu. Mishina

    (Institute of Economic Forecasting, Russian Academy of Sciences)

  • L. I. Khomyakova

    (Interstate Bank, Moscow, Russia; Financial University under the Government of the Russian Federation
    Financial University under the Government of the Russian Federation)

Abstract

— The article discusses the key trends in the development of the Russian foreign exchange market in 2022 – dedollarization, decentralization, and delocalization. The authors analyze the structure of foreign exchange transactions, pointing to its change, which occurred under the influence of extreme factors, which include sanctions against the Russian Federation in general and financial market participants in particular. The analysis is confirmed by statistical data on transactions in the foreign exchange market. Proposals were made for the development of regulation in order to further stimulate foreign exchange transactions and settlements with friendly countries.

Suggested Citation

  • V. Yu. Mishina & L. I. Khomyakova, 2023. "Structural Transformation of the Russian Foreign Exchange Market: Dedollarization, Decentralization, Delocalization," Studies on Russian Economic Development, Springer, vol. 34(3), pages 372-380, June.
    • Handle: RePEc:spr:sorede:v:34:y:2023:i:3:d:10.1134_s1075700723030103
    DOI: 10.1134/S1075700723030103
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    References listed on IDEAS

    as
    1. Kristina V. Shvandar & Lyubov I. Khomyakova, 2022. "Regional Payment Systems of Asia, Africa, Latin America as a Tool for Regional Integration. Prospects for the Eurasian Economic Union," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 43-54, April.
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    Cited by:

    1. Victoria Yu. Mishina & Lyubov I. Khomyakova, 2024. "Current Trends in the Development of Financial Infrastructure and Transformation of the Foreign Exchange Market in Russia," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 8-23, August.

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