Foreign currency deposits of Russians in foreign banks increased 2.2 times over the past year. According to the Central Bank, in December, the total amount of deposits reached almost 5 trillion rubles. This is the maximum amount during stats.
Russian households have increased deposits in foreign banks to a record amount. According to the Bank of Russia, in December 2022, the volume of deposits reached 81.69 billion dollars, or 4.98 trillion rubles. This is the maximum amount since January 1, 2018, when the regulator began keeping statistics.
The total amount of deposits of Russians in foreign banks began to grow rapidly in February, when a special operation began in Ukraine, then the growth leveled off, and after July it started again.
The slowdown in the growth of the volume of deposits falls on the periods of easing by the Bank of Russia of monetary restrictions, when limits on currency transfers and their export abroad were introduced.
As of December 30, 2022, the Central Bank allowed banks from hostile countries to transfer rubles abroad from correspondent accounts in the Russian Federation. This allows settlements in rubles for foreign trade operations.
Author:
Kirill Bilyk
Source: RB
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