The head of the Central Bank announced a five-fold decrease in cash outflow from banks. If in September the population withdrew 500 billion rubles from banks, then in October the amount was reduced five times – to 100 billion rubles.
The head of the Central Bank, Elvira Nabiullina, delivered statistics on cash outflows from banks to journalists at the Finópolis forum.
“Based on the first data for November, we see that cash transactions are returning to the seasonal norm,” Nabiullina said.
According to the Chairman of the Central Bank, in October the outflow of cash from banks amounted to 100 billion rubles, while in September this amount was five times higher – 500 billion rubles.
Nabiullina explained the outflow of money from the banks due to the increase in anxiety in society caused by the growth of geopolitical tensions. An increase in cash outflow was also observed at the beginning of the COVID-19 pandemic in the spring of 2020 and in February 2022 after the start of the special operation in Ukraine.
Author:
Kirill Bilyk
Source: RB
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