Analysis of key indicators of devalutization and their impact on the Russian financial system

The article analyzes the process of devalutization in the Russian economy, which implies the reduction of dependence on foreign currencies, mainly on the U.S. dollar and the euro. To assess the impact of devalutization on the country’s financial system, a number of key economic indicators are considered. These include: inflation rate, international foreign exchange reserves, bank deposits, international settlements and the ruble exchange rate against major world currencies. In recent years, the trend towards devalutization has become more prominent due to sanctions imposed by Western countries and general geopolitical tensions. After 2022, Russia’s international reserves declined due to sanctions. Despite these difficulties, the Russian government has taken measures to strengthen the ruble and relax currency controls. These include restrictions on currency transactions and the mandatory return of foreign currency proceeds to the Russian Federation. This has probably had an impact on the banking system: total deposits and loans continue to grow, but the share of foreign currency is shrinking. Nevertheless, the RUB/USD and EUR exchange rates remained volatile, reflecting internal and external economic factors. Inflation, which peaked in 2022, began to decline in 2023, which may indicate the impact of measures to stabilize the economy. In conclusion, the authors of the article note that despite some positive developments, the instability of the ruble exchange rate and external sanctions point to the need to continue efforts to strengthen the national currency and stabilize the Russian economy. The article presents a comprehensive analysis demonstrating the importance of the devaluation process for the future of the Russian financial system.