Russians took 1 trillion rubles out of the country and set a record for buying currency on the stock exchange

Private investors became the main buyers of foreign currency from exporters on the exchange in the second quarter, according to the Central Bank (CBR) review of the activities of professional participants. Moreover, citizens set a record by buying foreign money, mostly euros, for 439 billion rubles, Izvestia learned.

As noted in a review of the regulator, however, “the balance of currency on the broker and bank accounts of individuals (in dollar terms) increased less significantly, as currency was mostly transferred to foreign accounts. An indirect assessment of the volume can be made on the dynamics of transactions of the household sector, explained “Izvestia” in the press service of the Central Bank.

“Deposits of Russian citizens in non-resident banks increased during the quarter by 480 billion rubles. This figure is formed by both purchases of currency in the reporting quarter through brokers, and the transfer of currency, which was previously already in foreign currency accounts, including bought from banks directly outside the exchange,” – told the Central Bank.

Overall, over six months, citizens took more than a trillion rubles (1 trillion and 19.8 billion) abroad in foreign currency.

However, most of it fell on the first quarter, during which the Russians replenished their foreign cash pots by 539.7 billion rubles.

February was mostly distinguished by Br331.6 billion.

But already in March, this figure had almost halved, declined even more in April, and in May, it was down to 99.6 billion rubles. This is quite understandable: the regulator imposed currency restrictions to stabilize the market – in particular, on the amount of transfers abroad and withdrawals of foreign cash, as well as introduced a commission for buying currency on the stock exchange via brokers.

But with the gradual liberalization in this segment in June, transfers to foreign accounts increased again to 266.1 billion rubles. This trend continued in the 3rd quarter. At the dawn of the trend, the Central Bank actually lifted restrictions on currency transfers abroad, increasing the monthly limit to $1 mln from July 1 this year.

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Written by Medvedev


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