15 Feb 2024 09:46

Russia's broad monetary base shrinks 3.3% in Jan - Central Bank

MOSCOW. Feb 15 (Interfax) - Russia's broad monetary base shrank by 873.9 billion rubles or 3.3% to 25.633 trillion rubles in January, the Central Bank of Russia (CBR) reported on its website.

Year-on-year growth of the monetary base slowed from 8.5% on January 1 to 5.9% as of February 1, the lowest figure since September 1, 2022.

Cash in circulation decreased by 565.9 billion rubles or 3.1% to 17.755 trillion rubles in January, the lowest figure since June 1, 2023, when it was 17.338 trillion rubles.

Year-on-year growth of cash in circulation slowed from 12.1% on January 1 to 9.8% as of February 1, the lowest figure since March 1, 2023. The share of cash in the monetary base grew to 69.3% from 69.1% in January.

Funds in credit institutions' correspondent accounts with the CBR grew by 290.7 billion rubles or 6.4% to 4.821 trillion rubles, while balances on credit institutions' deposits at the CBR shrank by 600.2 billion rubles or 17.7% to 2.784 trillion rubles.