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OBJECTIVE MEANING AND SUBJECTIVE PERCEPTION OF THE US DOLLAR IN THE RUSSIAN FEDERATION: TRENDS, CONTRADICTIONS, CONSEQUENCESLomonosov Public Administration Journal. Series 21 2024. 2. p.3-19read more153
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Based on the data of the Bank of Russia, a significant decrease in the role of the US currency in the Russian Federation during export-import operations servicing and exchange trading was revealed. It is stated that these processes conflict with the subjective perception of the US dollar as the world’s leading currency, as well as the generally accepted representation of its exchange rate in the media. The conclusion is formulated about the negative impact of the imbalance of the objective value and subjective perception of the dollar on ensuring price stability in the Russian market of goods, works and services: increased attention to the dynamics of its exchange rate is still transmitted to the price level through the mechanism of inflationary expectations, despite the decrease in the real prerequisites for this process.
As a solution to the identified problem, a number of organizational and managerial measures are proposed. They are aimed at the “emotional and psy- chological depreciation” of the US dollar among Russian citizens: firstly, the mode of publication by the Bank of Russia of official foreign exchange rates against the ruble should be changed; secondly, it is necessary to adjust the sequence of representation of data on exchange rates on state information resources; Thirdly, it is necessary to intensify information and explanatory work on the role of the US currency in the Russian economy and financial system by officials and unofficial speakers.
Analytical and statistical methods were used in the study.
Keywords: US dollar; Russian ruble; yuan; exchange rate; price stability; behavioral economics; inflation expectations; inflation targetin; publication of official rates; financial sovereignty
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