Cash demand in Russia surges to peak level this year, increasing by over 640 billion rubles in July alone
Cash demand in Russia reaches highest point since the beginning of the year
According to data from the Central Bank of Russia, as of the end of July, the total amount of cash in circulation in Russia increased by 643.4 billion rubles compared to June, a rise of 43.1%, marking the largest monthly increase since the start of the year.
In January this year, the volume of cash in circulation had decreased by 386.2 billion rubles, but since February it has shown continuous growth. From February to July, the total amount of cash in circulation increased cumulatively by 2.547 trillion rubles.
The Central Bank of Russia stated that the rise in cash demand is primarily due to the public's adaptation to tax reform and frequent disruptions in domestic mobile networks—these disruptions have prompted individuals to withdraw cash from bank accounts as a precautionary measure.
Original article: toutiao.com/article/1872551746893834/
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