The volume of cash in circulation by the end of 2023 almost reached 18 trillion rubles

The volume of cash in circulation as of December 1, 2023 amounted to 17.91 trillion rubles, follows from (.xlsx) statistics from the Bank of Russia. By December 28th data regulator, another 374.7 billion rubles were converted into cash. Thus, the increase in cash in circulation by Russians by the end of 2023 amounted to about 1.94 trillion rubles. In 2022, the increase was 2.28 trillion rubles, up to 16.35 trillion rubles.

During January-August 2023, the amount of cash in the hands of the population in Russia increased by more than 2 trillion rubles. This is partly explained by a surge in demand for cash due to the mutiny of the Wagner PMC, when during the period from June 23 to 25, Russians cashed out 100 billion rubles.

In September, the volume of cash in circulation among Russians began to decline for the first time since the spring of 2022 – by 21.6 billion rubles. Later, the cumulative decrease in this indicator reached 446.9 billion rubles. The process accelerated after banks began raising deposit rates in response to the Central Bank raising the key rate. Bank of Russia predictedthat by the end of the year the increase in cash in circulation will reach 2.5–3 trillion rubles.

Erdni Kagaltynov