Cbank says ruble under pressure of falling trade surplus in July

MOSCOW, Aug 8 (PRIME) -- The ruble remained under the pressure of a declining foreign trade surplus in July, as sales of revenue of exporters in foreign currencies fell by 1.6% to U.S. $6.9 billion, the central bank said in a report on Tuesday.

"The amount of net sales of foreign currency by the largest exporters decreased by 1.6% (in July) from the level of June to $6.9 billion from $7 billion. The ratio of net foreign currency sales to the foreign currency revenue of the largest exporters (without the ruble component), amounted to 84% in June (after 88% in May with adjustments)," the central bank said.

Sales of foreign currency by banks of systemic importance rose to 528 billion rubles in July from 377 billion rubles in June, with the largest banks being the leaders by sales. Smaller banks made net purchases of 524 billion rubles in July after 400 billion rubles in June.

(96.5668 rubles – U.S. $1)

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