Demand for cash has sharply increased in Russia – Rossiyskaya Gazeta

In April, Russia recorded a sharp demand for cash, wrote RBK with reference to the data of the Central Bank of the Russian Federation. The volume of cash in circulation received through banks increased by 366.9 billion rubles. Since the beginning of the year, this is the largest cash outflow indicator.

After a seasonal withdrawal and return of funds in a non-cash form in January, the outflow of cash was low (121.1 billion rubles in February). In March, the liquidity in the hands of the population and business decreased again – by 29.7 billion rubles.

Experts explain the April growth in demand for cash by the long May holidays, the newspaper writes. Russian President Vladimir Putin signed a decree stating that Russians may not work from May 1 to May 10 by the decision of employers.

Another reason for the outflow of cash is the concern about the possible disconnection of Russia from the international banking system SWIFT. This proposal was made in April by a group of MEPs.

Source: Российская Газета by

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