Russia's trade surplus hits record with 59.7% ruble payments

The share of currencies from non-aligned countries in transactions amounted to 7% in both the second and first quarters, while other currencies accounted for 44% in the second quarter, following 43% in the first quarter.

Consensus

The share of ruble payments in Russia's external trade reached 59.7% in the second quarter of 2026.
Russia's external trade surplus increased to $25.9 billion in the second quarter of 2026.
The share of payments in currencies of unfriendly countries decreased to 11.6% in the second quarter of 2025.
The share of payments in other currencies increased to 28.7% in the second quarter of 2126.
The volume of mortgage lending in Russia increased significantly in the first half of 2026.
Cash withdrawals from banks continued for the seventh consecutive month in August 2026.
Deposit interest rates in major Russian banks remained high, with short-term deposits reaching 13.76% annually.
The external debt of Russia increased to $313.3 billion by the end of June 2026.
The federal budget was executed with a deficit of 6.455 trillion rubles in January–July 2026.

Points of divergence

The trade surplus in the second quarter of 2026 was almost entirely (99%) formed by ruble payments, amounting to $25.6 billion. — interfax
The current account surplus in the first half of 2026 grew by 67.2% year-on-year to $34.1 billion. — kommersant
The external debt of Russia reached $313.83 billion by July 1, 2026. — vedomosti
Russians withdrew nearly 300 billion rubles in cash over two weeks in August 2026. — tg_moscowtimes_ru
The volume of early mortgage repayments increased by 20% in January–March 2026 and reached 380 billion rubles. — vesti
The average maximum deposit rate in the ten largest Russian banks was 12.89% at the beginning of August 2026. — m24
Short-term deposit rates reached 13.76% in early August 2026, the highest in five months. — riamo
In June 2026, mortgage lending increased by 55% compared to the same month in 2025. — tg_moscash

Coverage (20 sources)

The share of rubles in Russia's foreign trade turnover in the second quarter rose to almost 60% — Интерфакс
Surplus of the current account of the balance of payments in the first half of the year increased by 1.7 times — Коммерсантъ
Russia's external debt has grown to $313 billion — Ведомости
Russia's money base in the broad sense grew by 2.4% in July — Интерфакс
Russians withdrew another almost 300 billion rubles in cash from banks in two weeks — The Moscow Times
Central Bank of Russia: Russians increasingly pay off mortgages early — Вести
Central Bank: maximum deposit rate increased in August — Ведомости
Average deposit rate in top-10 banks of the Russian Federation increased for the fourth time in a row — Коммерсантъ
In Russia, the average maximum rate on bank deposits has increased — Вести
Average maximum deposit rate in Russia's largest banks rose to 12.89% — Москва 24
Central Bank of Russia reported increase in demand for cash in July — Коммерсантъ
Russians have found a new way to transfer capital and send $500 million per month to foreign brokers — The Moscow Times
Outstanding agricultural debt of the Russian Federation grew by 0.8% by July 1 — Интерфакс
Competition for liquidity: deposits in Russian banks have become more expensive again — Вести
Medium rates for short-term deposits reached a maximum since March — РИАМО
Banks raised rates on short-term deposits to the maximum since March — Ведомости
Money base in Russia grew by 26.6 billion rubles from July 24 to July 31 — Интерфакс
VTB: The volume of mortgage lending in the Russian Federation increased by 38% since the beginning of 2026 — Вести
Market mortgage reached a maximum for two years — Коммерсантъ
Central Bank: banks reflected 17.5 million attempts to steal money from Russians worth almost 2 trillion rubles — Коммерсантъ

Russia's trade surplus hits record with 59.7% ruble payments

Consensus

Points of divergence

Coverage (20 sources)

Key entities

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