against the background of the pandemic coronavirus Russians in droves for cash, resulting in a sharp outflow of liquidity from banks. In March, the volume of cash in circulation grew by 0.7 trillion roubles, according to the Central Bank. In this case the regulator, in its review, considers the cash used to replenish cash registers and ATMs. This behavior of the population, the regulator explains, first, the high level of uncertainty and various risks, and second, the quarantine measures: in the period of self-isolation from the citizens there is often a need to pay it cash. For example, with the couriers.
well, people can understand, and not only of our citizens. We are talking about global phenomenon. In the first phase of the epidemic coronavirus, people from different countries actively buying commodities and to withdraw cash money from ATMs, reminiscent of a financial analyst FxPro Alexander Kuptsikevich. Cash is something that can be touched, in the eyes of many they were and remain the only reliable means of payment and accumulation. In addition, economic downturns usually accompanied by the growth of the gray market when part of the outlets sells products exclusively for cash, thus trying to “optimize” their tax payments.
“In the future, I think our fellow citizens will ask for much less cash. Their spending on shopping will decrease, especially in offline mode. In addition, because of the crisis they will earn less,” – says the expert.
as for banks, they already had experienced an extreme influx of customers. The largest were able to avoid problems, thanks to the stable surplus of liquidity. However, the risks for credit institutions remain, warns Kuptsikevich: if, for example, customers at once demand your money back, it can weaken almost any Bank. Now the question is: are banks ready for the inevitable wave of the arrears of payments and bankruptcies of small businesses?
