Russia's money supply rises 0.6%, annual growth quickens to 13.2% in Sept - CBR

MOSCOW. Oct 7 (Interfax) - Russia's M2 money supply rose 0.6% in September 2026 to 137.5 trillion rubles according to preliminary data after growing 1.0% in August, the Central Bank said on its website.

Annual growth quickened to 13.2% as of October 1, from 12.7% on September 1.

Broad M2X money supply adjusted for FX revaluation increased 1.0% in September after rising 0.9% in August. Annual growth fell to 11.3% from 11.7%.

Starting from data for September 2026, the Bank of Russia will calculate foreign currency revaluation of monetary statistics indicators on the basis of the ruble-to-foreign currency exchange rates and changes in the accounting prices of precious metals instead of the ruble-to-U.S. dollar exchange rate (according to the current methodology). The methodology for reporting international companies in monetary and credit statistics has also been refined; these companies are recorded with resident status.

M0 cash supply rose 1.3% to 21 trillion rubles in September and 1.9% in August. It rose faster than the 0.3% growth seen for retail ruble term deposits in September and in February-August. Annual growth for M0 quickened to 21.6% on October 1 from 20.9% on September 1.

Corporate ruble deposits contributed 4.6 percentage points to annual M2X growth in September, down from 4.7 pp in August, while household ruble deposits contributed 4.5 pp.

M0 cash contributed 2.8 pp to M2X money supply growth in September and 2.7 pp in August. The M0 share of ruble money supply rose to 15.3% from 15.1% the month before, and close to the level seen at the end of 2024.

The shares of transferable and other fixed-term retail deposits in M2 were virtually unchanged from the previous month, at 15.7% and 33.6%, respectively.

The M2 aggregate includes M1, which is currency in circulation outside the banking system (M0) and balances in national currency in settlement, current and other demand accounts of households, non-financial and financial, excluding credit, organizations resident in Russia, and includes balances in national currency in fixed-term deposits and other funds raised for a fixed term of households, non-financial and financial, excluding credit, organizations resident in Russia.

The M2X broad money supply includes the M2 aggregate and all deposits in foreign currency, as well as deposit and savings certificates.