the demand for the Russian currency exchange began to recover after the easing of restrictions: currency turnover has increased in comparison with April, but substantially lower than before the pandemic. This is reported RIA Novosti with reference to a survey of banks.
thus, according to VTB in may and June, the currency turnover grew by almost 30% in comparison with March, and April 2020, but still lags behind the levels of last year. “The most popular currency continues to be the dollar, on the second place of the Euro”, – have noted in VTB.
According to the Bank “Russian Standard”, the total amount of foreign exchange cash transactions in June compared to may, when still operating mode isolation, increased by 64%. The average amount of one transaction in June increased by 12% from the previous month.
In a jar “House.Of Russia” noted the growth of demand for currency three times and increase the average transaction amount in half. The volume of exchange transactions, according to the Bank, increased by 10% compared to March of this year.
In financial institutions also noted a change in customer behavior, most of which are either trying to diversify your existing portfolio of savings, or exhibit a much more restrained interest in foreign exchange transactions than it was before the pandemic.
“the Share of transactions with US dollar and Euro are about equal, with a slight preponderance in favor of the dollar. Also in demand of Japanese yen and pound sterling, but the volume of transactions in these currencies are much lower,” – contained in the message data of ROSBANK.
the “Russian standard” also noted the caution of the Russians in matters of foreign exchange transactions. “The figures of the current year significantly different from last year: the total number of such operations with foreign currency in may 2020, about three times lower than in may 2019 and June 2020, approximately twice lower than in June 2019,” the Bank said.
Some banks, including Russian agricultural Bank and “Zenit” in may and June did not observe increased interest of large banks, reported a significant fall in demand for cash currency. So, customers don’t see the greatest surge of foreign exchange transactions was observed in March, during the period of increased volatility in the currency market. “With the introduction of restrictive measures related to the pandemic, interest in these operations decreased more than three times. In may and June, a decline of 25-30% from April and compared with last year the volume of foreign currency operations decreased almost three times,” – reported in the PSB.
In the Crimean RNCB also noted a drop in customer demand for foreign currency compared with the previous year, and a period of self-isolation. According to the financial institutions, the number of foreign exchange transactions has decreased almost twice, and their volume fell by 1.5-1.7 times as compared��statement with the same period of 2019. “The exception was March 2020, when the volume of transactions increased by 1.8 times yoy, while the number of exchange operations increased 4.6 times in connection with the period, major movements on the currency market”, – noted in the MCB.
