The data show that Russians moved 138.3 billion rubles to foreign accounts. The figure declined in May, marking the first drop since March, as reported by the Central Bank via statistics cited by RIA Novosti.
According to the Central Bank, the smallest amount sent to non-resident banks this year occurred in February, totaling 125.3 billion rubles. The flow then rose steadily, reaching 156.7 billion rubles in April. Consequently, in May, Russians sent funds abroad 11.8% less than in April, continuing a downward trend after a spring peak.
Last year, residents set a record for money transferred to the accounts of foreign banks, totaling 4 trillion rubles. This was the highest level since 2018, when the regulator began publishing such statistics. The peak monthly figure occurred in November, with 561.5 billion rubles moved abroad. During the same period, Russian deposits in dollars grew more than threefold, climbing to $94.27 billion.
After the special operation Russia launched in Ukraine on February 24, 2022, there was a noticeable uptick in residents transferring funds to foreign banks. The shift reflected a broader response to changing economic conditions and financial regulations during the ensuing period.
In remarks around the market outlook, observers noted a mix of cautious and optimistic tones among analysts regarding capital flows and the resilience of domestic financial channels. These comments underscore the ongoing interest in how sanctions, currency stability, and macroeconomic policy will shape future transfers to foreign institutions.