The problem in rubles: African countries do not want to trade with the Russian Federation under the Kremlin terms

About it reports the Russian RBC. Thus, according to journalists, in July, the share of rubles between Russia and Africa decreased to 12. 7%. At the same time, it was 48. 3%earlier, 35. 2%in May, 44. 9%in April, 61. 3%in March, and in February it reached 82. 4%. A sharp decrease coincided with a collapse of the ruble, the course of which in July rose above 90 rubles per dollar.

According to the leading expert of the Center for Macroeconomic Analysis and short -term forecasting (CMACP) Andrei Hnidchenko, Egypt and Algeria are the main trading partners of Russia in Africa. These countries receive food and weapons from Moscow. Interestingly, the share of the currencies of countries, which in the Kremlin is called "friendly", including Chinese Yuan, reached 78. 8%in July in July in July. According to journalists, it is a record since January 2021.

At the same time, the share of the dollar and the euro in trade decreased to 8. 5%. In June it was 12. 6%, in May - 58. 9%. Although in January 2021, the share of dollars and euros reached almost 100%. Analytics are associated with a relatively small volume of trade in the Russian Federation with Africa - according to Russian customs, according to the publication, in July 2023 the continent's share was 3. 7% of Russia's total turnover. In 2022, this figure was even smaller - 2. 3%.

The main currency that Africa can use is Chinese Yuan and to a lesser extent Indian. It should be noted that in Russia they tried to restore the ruble exchange rate, the central bank on August 18, 2023 even increased sales of national currency to stabilize the financial market. However, on September 9, the US currency has risen to 98. 54 rubles per dollar. At the same time, the ruble in the Russian Federation fell a market for government bonds.