MOSCOW, September 15 Capital outflow from Russia became a factor in the weakening of the ruble, but not the most significant: over the eight months of this year it amounted to $28.6 billion compared to $195.1 billion last year, said the head of the Bank of Russia, Elvira Nabiullina.
“”And the outflow of capital, there are also frequent questions about this, to what extent the outflow of capital was a factor in the weakening of the exchange rate. Indeed, this is one of the factors, but, in our opinion, not the most significant. Moreover, the outflow of capital in this year was much less than last year. And if you look at the balance of payments data, at the financial account without taking into account reserves, then for the eight months of this year it was 28.6 billion dollars, and last year it was 195.1 (billion dollars – ed.),” Nabiullina said during a press conference.
“”Similarly, the acquisition of net foreign assets this year was also less. Therefore, this affects the exchange rate, but this influence is, of course, less than other factors,” she added.
