compared to levels of import in February the supply of dollars has increased almost ten times and this record for nearly six years. More cash dollars banks imported only in March and December 2014 of 9.5 and 10.15 billion, respectively.
the Import of cash euros in March rose almost three times in comparison with February. However, the total amount per month cannot be called a record: comparable monthly volumes of the European currency was supplied to Russia in 2019.
Increased need of banks in foreign currency may be associated with an increased customer demand for exchange transactions. In addition, due to the high volatility and depreciation of the ruble amid falling oil prices and pandemics coronavirus investors in March, are actively removed the money from deposits in rubles and in foreign currency. According to the Bank of Russia, in March, the Russians withdrew 1% of the total volume of ruble deposits 315 billion roubles and foreign currency deposits – $ 5 billion.
