Template-Type: ReDIF-Article 1.0
Author-Name: Gleb Barabanov
Author-Name-First: Gleb
Author-Name-Last: Barabanov
Author-Workplace-Name: Gaidar Institute for Economic Policy
Author-Name: Alexander Knobel
Author-Name-First: Alexander
Author-Name-Last: Knobel
Author-Workplace-Name: Gaidar Institute for Economic Policy
Author-Name: Pavel Trunin
Author-Name-First: Pavel
Author-Name-Last: Trunin
Author-Workplace-Name: Gaidar Institute for Economic Policy
Title: Balance of Payments in Q1 2026
Abstract: The current account balance of the Russian Federation’s balance of payments in Q1 2026 amounted to $12.2 bn, a 34% decrease from the corresponding figure for Q1 2025. The financial account deficit (excluding reserve assets) narrowed to $14.5 bn, compared with $16.8 bn a year earlier. The decline in net capital outflows was driven by a reduction in purchases of foreign assets. The ruble exchange rate weakened by 3.9% over the quarter (to Rb81.3 per dollar), but strengthened to Rb74.9 per dollar in April. The average ruble exchange rate is expected to be Rb75–85 per dollar in 2026.
Classification-JEL: F21, F31, F32, F41
Keywords: Russian economy, balance of payments, current account, financial account, capital outflows, Rb exchange rate, Bank of Russia
Year: 2026
Issue: 10
Month: May
Pages: 3
File-URL: https://www.iep.ru/files/RePEc/gai/mreoen/mreoen-2026-10-1609.pdf
File-Format: application/pdf
File-Function: Revised Version, 2026
Handle: RePEc:gai:mreoen:mreoen-2026-10-1609