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US25161EАА91) to Russian investors. The issuer may fulfil its obligations in Belarusian rubles or buy back the Eurobonds. The payments will bypass foreign institutions. National

of the monitoring of the maximum interest rates on deposits1 in Russian rubles of the top ten credit institutions2 attracting the largest amount of household

can be credited with a strengthening of the ruble, all else being equal, while a stronger ruble is a disinflationary factor in principle. Having said

19.4 12-17 5-10 6-11 6-11 Claims on organisations and households in rubles and foreign currency3 22.7 10-15 7-12 7-12 8-13 – on organisations 22.

July 2024 Figure 22. Ruble loans portfolio growth, % MoM Figure 23. Loan issuance under subsidies SA mortgage loan programmes, billion rubles 4 700 600 3

increased business risks, and some strengthening of the negative impact of the ruble exchange rate dynamics. CURRENT ESTIMATES OF CHANGES IN OUTPUT IN PERCENTILES RELATIVE

of the ruble rose against all main foreign currencies traded in the market. The monthly increase in the exchange rate of the ruble against the

Russian Government cancelled the export duty on bituminous coal, pegged to the ruble exchange rate,12 in order to support domestic exporters. In April, this

of rubles millions of rubles millions of rubles millions of rubles of units millions of rubles millions of rubles millions of rubles millions of rubles