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Russia-China Trade Grew 27.7% y/y in Jan-Oct

RUSSIA
  • Chinese-Russian trade grew 27.7% to $196.48bln in January-October 2023 year-on-year, a report published by the Chinese General Administration of Customs said. Russian imports to China grew 12.4% in January-October 2023 year-on-year, while Chinese imports to Russia went up 52.2%.
  • The decree on the mandatory sale of foreign currency revenues of exporters has stabilised the RUB exchange rate, and it will remain within these parameters in the future, Finance Minister Siluanov said according to Interfax. "One of the reasons of increased inflation is the weakening of the RUB exchange rate. We took measures recently, the presidential decree on greater control for the return of revenues of exporters was issued," the minister said.
  • There are no major data releases scheduled for today. CPI data is the key release of the week on Friday.
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