Currency factor in Russia’s foreign trade

Abstract

The article considers the infl uence of the currency factor on the volume and dynamics of Russia's foreign trade. Based on statistics shares of the main currencies serving its foreign trade are estimated. It is shown that Russian ruble was signifi cantly underestimated relative to its parity value. However, the engine of Russia’s export growth is the energy prices on the world market, while the undervalued ruble has minor impact on Russia’s export volume.