The Central Bank has said it is unusually high for recent years the demand for cash

The Bank of Russia said unusually high for recent years in Russia the demand for cash, it follows from the information-analytical review of the Central Bank "Liquidity of the banking sector and money market."

"Under the influence of a temporary increase in uncertainty about the prospects for the development of the macroeconomic situation in the context of pandemic coronavirus has significantly increased the value of deposits. For this reason, remained unusually high for recent years, the demand for cash", - stated in the materials.

According to the Bank, the amount of cash in the country is steadily increasing from the beginning of February of the current year: for last five months it increased by 2,178 trillion rubles, and on 1 July began to make a record of 12.42 trillion rubles.

The managing Director of the rating service of the National rating Agency Sergei Grishunin explained the growth of the volume of cash in circulation the fact that in times of crisis people tend not to trust financial institutions and prefer cash.

With a colleague agrees and economist "BCS Premier" Anton Pokatovich, which notes that the growth of demand for cash seems reasonable in the current circumstances. "The main factor in the growth of demand for cash is significantly increased uncertainty of business and population with respect to future economic prospects and the level of their income," he says.

The expert stressed that at the same time, this process has not led to any massive outflow of public funds from Bank deposits and in the foreseeable future this will not happen, even against the backdrop of declining rates, the Russians will continue to withdraw funds from deposits to the stock market. At the same time, the demand for cash is and the business: large companies currently prefer the accumulation of cash "safety cushion" on their balance sheets, said the economist.

According to the expectations of Pokatovich, in the next 3-6 months the trend in the growth of cash in circulation may continue. And Grishunin sure as the return of the economy to normal amount of cash in the population will decrease in the direction for 11.5-12 trillion rubles.