Russian Banking System Loses $24.48 Billion in Five-Month Cash Withdrawal Surge
By
Katherina Popilnichenko
Summary
The Russian banking system experienced a massive cash drain of 1.903 trillion rubles ($24.48 billion) between February and June, with monthly withdrawals averaging 380.7 billion rubles ($4.89 billion). June alone saw an 18% acceleration in cash withdrawals compared to May, as citizens and businesses hoard cash amid economic uncertainty. Cash savings have reached a record $227.67 billion, with daily withdrawals hitting 12.6 billion rubles ($162 million).
Source
bskyRussian Banking System Loses $24.48 Billion in Five-Month Cash Withdrawal Surgeunited24media.comKey quotes
· 3 pulledThe Russian banking system is facing its fifth consecutive month of cash depletion, with citizens and businesses withdrawing an average of 380.7 billion rubles ($4.89 billion) monthly between February and June.
The volume of cash in circulation surged by another 449.7 billion rubles ($5.78 billion) in June alone, marking an 18% acceleration compared to May.
Cash savings have reached a record $227.67 billion, with daily withdrawals hitting 12.6 billion rubles ($162 million).
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