Demand for cash contributed to 500 billion rubles in outflow from banks in June, fifth of this was on June 23-25 - CBR

MOSCOW. July 11 (Interfax) - Demand for cash grew in June and led to a liquidity outflow from banks totaling 0.5 trillion rubles, with a fifth of this figure coming in the days of the failed military mutiny attempt. According to a report by the Central Bank of Russia (CBR), 100 billion rubles were withdrawn on June 23-25.

"The increase in the volume of cash in circulation does not lead to problems in the conduct of monetary policy. The Bank of Russia takes into account the associated liquidity outflow when determining the parameters of its operations with banks," the regulator said.

In June, the structural liquidity surplus of the Russian banking sector decreased by 400 billion to 500 billion.

The Central Bank is maintaining its structural liquidity surplus forecast for 2023 in a range from 2.5 trillion rubles to 3.1 trillion rubles.