Taking into account the balances of funds in the vaults of banks, the volume of cash in circulation in Russia for the first time exceeded 18 trillion rubles. In this respect informs Bank of Russia.
According to the regulator, the amount of cash in the country as of August 1 stood at 18,194 trillion rubles, versus 17,797 trillion rubles as of July 1. The broad monetary base of the Russian Federation reached 25,078 trillion rubles, after 24,929 trillion the previous month. In July, it increased by 149 billion rubles.
In addition to cash, the monetary base includes funds in correspondent accounts of banks with the Central Bank, reserve requirements and deposits of credit institutions with regulators.
The increase in the volume of cash is associated with an increase in the demand of the population for banknotes against the backdrop of an unstable economic situation. Experts draw attention to the transition of citizens to savings in the form of cash.
Cash volume in circulation in June 2022 augmented reached 17.8 trillion rubles, with a record increase of 459 billion rubles compared to the same months of the last 25 years.
The Central Bank confirmed the increasing demand for banknotes in recent months. According to experts, a significant increase in cash is not expected in the near future. Over time, funds will return to the banking system as it is safer and more profitable to keep money in accounts.
Previously it happened It is known that the Russian demand for cash was abnormal in July.