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The current state and outlooks for Russian rouble circulation in the financial markets of the CIS countries. The current state the Russian rouble in the CIS countries . The major consumers of cash RUB (Ukraine, Belarus, countries of Central Asia).

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  1. The current state and outlooks for Russian rouble circulation in the financial markets of the CIS countries

  2. The current state the Russian rouble in the CIS countries. The major consumers of cash RUB (Ukraine, Belarus, countries of Central Asia). . After the Soviet Union collapsed in 1991, despite the fact that the role of the Russian economy was declining on the global and regional scale, the Russian national currency is still an important component of payment for goods and services between residents of the Russian Federation and the CIS countries.          The cash Russian ruble is an important part of this process as it allows mainly individuals (both residents and non-residents) to cover a variety of services and goods, and also a means of savings.            There are two main sources of cash Russian rouble supply to the CIS countries: • Import by natural persons (both residents and non-residents of the RF) • Import by commercial banks of the CIS area

  3. The Russian statistics does not reflect the whole information on import/export of cash Russian rouble to and from the CIS countries as the substantial part of it falls on individuals. Therefore, it is possible to estimate the volume of the rubles cash flows only due to certain data provided by central banks of the CIS countries which reveal the statistics of sales / purchases of foreign currency in exchange offices. According to these data, the volume of cash rubles is between 2-3% of foreign exchange operations in Azerbaijan, 5-7% in Ukraine and Kazakhstan, and up to 15-18% in Kyrgyzstan and Belarus. As a rule, the rouble is the third place (after the dollar and euro) in the cash currency market of the CIS countries. Percentage of cash rouble depends on several factors: the common border with the RF, the share of trade with Russia in foreign trade activities of a single CIS country, improving / deteriorating political relations with Russia, etc.

  4. The main obstacles to increasing the volume of cash RUB circulating in the financial markets of the CIS countries. It is chiefly due to the high economic activity of individuals and, to a lesser extent, commercial banks that of the cash Russian rouble has a relatively high proportion in the cash currency market of some CIS countries rather than due to the deliberate political and economic strategy of the Russian authorities. Despite grand statements calling Moscow the world financial center and words aboutnprogrammes for strengthening the economic influence of Russia on the CIS countries, often the policy regulating relations with the CIS countries is reduced to attempts to either put pressure on or lobby the interests of separate raw materials companies. And even at the level of tactical decisions-making, the situation is too complicated and bureaucratic. For example, Russian banks are still paying the customs duty when exporting the cash Russian rouble abroad. But a significant amount of cash Russian ruble outside Russia could be an excellent seigniorage for the Russian economy. Thus, only 40% of almost 700 billion cash dollar supply is in circulation in the United States.

  5. The prerequisites and measures for facilitating both the increase in cash RUB share in savings and economic activity of the public in the post Soviet area. The increase in the value and, as a consequence, the share of the cash Russian ruble in savings and the economic activity of the population of the CIS countries depends on the complex of macro-and microeconomic measures the Russian authorities will take to stimulate the use of the Russian currency in foreign trade with CIS countries. In terms of the cash Russian ruble, it is of crucial importance to make the rouble export procedures for both individuals and commercial banks as simpleand cheap as possible. At the same time,branches of Russian financial institutions (particularly state ones) should play a significant role in advancing the Russian cash currency as they could strengthen their activity on attracting Russian roubles to time deposits.

  6. The possibilities for JSCB Lanta Bank (CJSC), Moscow, to interact with partner banks from the CIS countries in the field of importing/exporting cash RUB bank notes. CB Lanta Bank (CJSC) is a major operator in the market for cash Russian rouble import / export to the CIS countries. The Bank actively interacts with its partners and counteragents, in Ukraine and Belarus in particular. The Bank imports and export cash Russian roubles on different terms (the airport in Moscow, CIP airport or door-to-door) which are most competitive.

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