Cash Turnover in Russia Increased by 1.4 Trillion Rubles per Day amid Conflict with Ukraine
OREANDA-NEWS The volume of cash in circulation in Russia for February 25 increased by a record 1.39 trillion rubles. This was reported by RBC with reference to the statistics of the Central Bank. The publication noted that there has not been such an infusion of cash into the economy through the banking system since at least 2011. At the peak of the crisis in 2014, after a sharp increase in the key rate to 17%, the volume of cash increased by 209.2 billion and 490.6 billion rubles in 2 days.
As the managing director of the validation department of Expert RA, Yuri Belikov, noted, such a surge in cash in circulation means that this amount was fully received by the population and business on February 25.
According to the expert, the statistics of the Central Bank shows the entire volume of cash that was put into circulation through cash desks and ATMs of banks, but this amount is close to the amount of cash withdrawals by the population and enterprises.
"The demand for cash is very high right now. Banks expected this, based on the dynamics of last week and the news background. With this in mind, the cash registers were actively reinforced. Strictly speaking, it is still unknown how much of this was removed," Belikov concluded.
Earlier, The Secret reported that on the morning of February 28, the euro dropped to 119.92 rubles, the dollar to 107.5 rubles. During the auction, the euro exchange rate reached 132.88 rubles, the dollar - up to 117.82 rubles.
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