The Russians massively withdrew foreign currency savings abroad

By December 1, 2022, foreign currency deposits of Russians amounted to 8.4 trillion rubles (21 percent of all deposits). At the same time, Russian banks kept 3.5 trillion or 42 percent of all foreign currency deposits. Such data leadVedomostiwith reference to data from the Central Bank.

It is noted that the Russians, due to the growing risks of holding currency in the country, preferred to leave most of their savings abroad instead of converting them into rubles.

At the same time, according to the Central Bank, in December, the Russians withdrew 5 trillion rubles, or 58 percent of all foreign currency deposits, to foreign banks.

At the same time, there was no significant reduction in foreign exchange savings due to sanctions, the publication noted.

Source link