in the Russian Federation, for the first time in a year and a half, the amount of cash in the hands of the population decreased – Kommersant

The Central Bank of Russia reported that the volume of cash in circulation in September of this year decreased by 21.6 billion rubles. As noted RBCthe regulator’s data indicate that in the Russian Federation there was the first reduction in the amount of cash held by the population since the spring of 2022, which was not due to seasonality.

As follows from the regulator’s statistics, a similar surge in the decrease in the amount of cash in the hands of Russians was recorded in March, April and May last year. Then Russians actively replenished their accounts and deposits amid a sharp increase in the key rate. After this, a reduction in cash in the hands of the population and business occurred in January of this year (RUB 74.5 billion), but, according to RBC, such dynamics are typical for the beginning of the year.

Previously the Central Bank reported, that based on the results of the first half of 2023, cash withdrawal volumes in the banking sector decreased year-on-year by 5%, to RUB 32 billion. In particular, the volume of suspicious transactions to withdraw cash from the accounts of legal entities has more than halved. A decrease in the volume of cash withdrawals outside the banking sector was also recorded – by 30%, to 10 billion rubles.

Alexander Kislov