Russia's Exporters Cut Currency Sales Amid Economic Pressures

The largest Russian exporters sold only $2.2 billion worth of currency in July, according to the Foreign Intelligence Service of Ukraine.

This is a significant drop from June's sales of $7.6 billion and July 2025's $8.1 billion, but still higher than July 2024's figure of $12 billion.

The decline in currency sales means a smaller supply of foreign exchange for the market, which has contributed to a rise in dollar, euro, and yuan exchange rates by over 20% since summer 2026.

This increase in exchange rates weakens the ruble, making imports more expensive and contributing to inflationary pressure. The Central Bank of Russia is also facing reduced room for rate cuts due to this situation.