The volume of cash currency in the hands of Russians for the first time exceeded 100 billion dollars

In the hands of the people of Russia as of February 1, there is cash worth the equivalent of 105.4 billion US dollars, according to Bank of Russia data released on March 17.

As RBC draws attention, this amount for the first time since such statistics (since 2018) exceeded 100 billion dollars.

A sharp increase in cash in the hands of the population was recorded in the second half of 2022 – from July 1 to December 1, the total amount of such funds increased by $4.3 billion.

The growth of paper money among the population in conditions where there are restrictions on its withdrawal from bank accounts in Russia means only one thing – the import of banknotes has exceeded the export, said Yegor Susin, General Manager of Gazprombank Private Banking.

RBC

After the outbreak of the war, the Central Bank limited the ability to withdraw money from foreign currency accounts in Russian banks. You cannot withdraw more than 10,000 dollars or the equivalent in euros, and only if this money was in the account before March 9, 2022. Any other money from these accounts, when withdrawing, is forcibly consulted in rubles.

The European Union and the United States, a few days after the start of the war, banned the sale and supply of dollars and euros in cash to Russia. The restriction does not apply to funds imported for personal use.

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