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The Central Bank noted the growing demand among Russians for cash

CBR: demand for cash is growing due to tax changes
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Photo: IZVESTIA/Elmira Zakirova
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In March—April, the demand for cash increased among Russians, and the savings activity of the population remained high. This was announced on May 7 by the Central Bank of Russia in the summary of the key rate discussion.

According to the regulator, the growth in demand for cash was influenced by the adaptation of citizens to tax changes, as well as interruptions to the Internet in the country. It is noted that the population strives to have a reserve of funds for payment, independent of the digital infrastructure.

"The redistribution between non—cash and cash funds does not create independent inflationary risks," the summary says.

The Central Bank noted that an increase in cash turnover only leads to a change in the structure of the money supply. In March, the volume of cash in circulation increased by 0.3 trillion rubles (in February — by 0.2 trillion), which is significantly higher than in previous years.

The head of the Central Bank of the Russian Federation, Elvira Nabiullina, announced on April 24 that cash will remain in circulation with the introduction of the digital ruble into the economy. According to her, the regulator has no plans to accelerate the mass introduction of the digital ruble, it will refine it so that "people choose it themselves."

Переведено сервисом «Яндекс Переводчик»

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