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Volume of cash in circulation rises by $2.05 bln in August — Bank of Russia

The regulator said earlier the increase in the volume of cash in circulation in May-June 2023 was larger than seasonal levels normal for this time, totaling $7.16 bln

MOSCOW, September 8. /TASS/. The volume of cash in circulation in August increased by 0.2 trillion rubles ($2.05 bln) while at the end of the month the growth in demand for cash slightly slowed down, the Bank of Russia said on Friday.

"The volume of cash in circulation increased by 0.2 trillion rubles in August. At the same time, at the end of the month, the growth in demand for cash slightly slowed down. The Bank of Russia takes into account the dynamics of cash when determining the parameters of its main auctions with banks," the regulator said.

According to the Bank of Russia, the demand for cash resulted in a 0.4 trillion rubles ($4.09 bln) outflow from banks in July, as previously reported.

The regulator said earlier the increase in the volume of cash in circulation in May-June 2023 was larger than seasonal levels normal for this time, totaling 0.7 trillion rubles ($7.16 bln). The Bank of Russia explained that the discrepancy could be impacted by additional cash demand in new regions of Russia.

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