The share of banknotes of high denomination increased the most. This includes 5,000-ruble and 2,000-ruble notes, whose share rose from 26% to 31% and from 4% to 5% respectively.
'2020 saw a notable increase in the amount of cash in circulation primarily due to the coronavirus pandemic and the restrictive measures. During the lockdown, households demonstrated elevated demand for cash as they tried to have it in stock and avoid visiting bank offices and ATMs.
Since July, demand for cash began to normalise and returned to its usual seasonal average. November saw a slight decrease in demand, which is characteristic of that time of the year, while in December we noticed its usual growth. As in previous years, this elevated demand for cash was related to the upcoming holidays as well as to the fact that banks increased their cash reserves to be able to replenish their cash desks and ATMs during the New Year period', said Deputy Governor of the Bank of Russia Mikhail Alekseev.
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Central Bank of the Russian Federation published this content on 27 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2021 15:25:02 UTC.
