Starting in mid-March in Russia recorded a sharp increase in the demand for cash, while in the last four weeks it reached record levels. Per working day on average from Bank accounts removed 10-50 billion rubles, the statistics of the Central Bank.
Thus, on 15 may (latest available statistics), the volume increased to 40.7 billion rubles, and from 14 may to 52.3 billion rubles. In total in may, released into circulation 217,8 billion rubles, and from the beginning of March of 1.43 trillion, which was an absolute record.
Traditionally, the demand for cash increases in December and January, when citizens spend premiums and other payments to work with, the rest of the time it is relatively stable.
The controller can not explain the cause of this trend. The version of the demand for cash from the population, which resulted in March, not confirmed by the growth of ruble accounts at the end of the month. Moreover, the regulator could not predict such dynamics.
At the end of April, the Deputy Director of cash circulation Department Bank of Russia Vladimir Demidenko, focusing on indicators of several days, said that the demand for cash came back to normal. It had to refute in a week the head of the Central Bank Elvira Nabiullina, confirmed that demand has continued to grow at a serious pace.
One possible explanation is the desire of banks to infuse cash to be prepared for increased demand and to prevent panic, if in some time the ATMs will be left without cash. Another explanation may be the increased volume taken by the business loans that are converted into cash, but can only confirm that detailed statistics are available only for March.
Earlier it became known that in 2019, the loss of the Central Bank of Russia has reached 182,5 billion rubles, and at the end of three years, the amount exceeded one trillion rubles. The last time the regulator made a profit in 2016.