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“To isolate themselves” citizens of the deferred cash record 362 billion rubles.

on the eve of the input mode of the isolation the Russians, as found “Izvestia”, were actively stockpiling cash. The volume of the hands of the population since the beginning of the year increased (mainly in March) to 362 billion rubles, told in press service of the Central Bank. This was due to the need to Finance the increased demand for durable goods. In turn hoarded cash and banks to meet the demand for “real” money. The increase in “cache” in circulation in the first month of spring reached a record 700 billion roubles. According to marketers, the most active citizens were buying buckwheat, rice, dumplings, sugar, cleaning products and toilet paper. Peak purchases occurred in mid-March.

In this process, according to the respondents “News” experts have been influenced by the introduction of a tax on income on deposits and desire to have cash because of fear that in isolation they cannot be removed.

the Surplus of the banking sector since the beginning of the year decreased by 1.4 trillion rubles, said at a press-conference may 8, head of the Central Bank Elvira Nabiullina. The main reason she called the increase in demand for cash from the citizens of that due uncertainty about the timing of isolation of the preferred stock “live” money. The banks that is guaranteed to satisfy the need of customers, also chose to increase the amount of funds in cash registers and ATMs.

As have informed “news” in the press service CBR in the period before entering a regime of self-isolation — mainly in March — there was a significant increase in cash funds from the public, which in the end amounted to 362 billion rubles. As explained in the Central Bank, the process was related to the fact that the increase in consumer spending (+2.6 percent) were financed mainly by saving, the outflow of which has accelerated more than doubled compared to the same period of 2019.

— This was due to the need to Finance the increased demand due of the spread of coronavirus, specified in the press service controller.

the survey showed the marketing company Nielsen, already in the 11th week of the year (9 to 15 March), the dynamics of sales compared to the prior week sped by almost half. Demand compared to the previous year increased by 13.8% in real terms (8.3 per cent a week earlier). In Moscow, where the primary focus of infection, the figures were even higher compared to previous week sales trend has accelerated almost three times. Among the leaders were the products of long storage, and such native “crisis” commodities, such as buckwheat, rice and��sugar, showed the largest increase — 66%, 64% and 56%, respectively.

Over seven days, indicated in the survey Nielsen, dynamics of sales in real terms accelerated by 2.5 times compared to the previous week and amounted to 35.8 percent against the same period of 2019. Since the beginning of self-isolation and the Russians actively bought cleaning products, antiseptics and toilet paper.

in late March — early April, marketers have identified a new trend. The citizens began to stock up the flour, vanilla, yeast, and baking mixes. According to experts, it testifies to adaptation to isolation and the desire to treat family something delicious. In addition, many Russians are dusting off the bread and started to prepare home-made bread. Also as the main reasons for the increase of cash in the hands of the population in CB is called and the closure of foreign currency deposits.

In March, the growth of cash in circulation has reached record levels in recent years — about 700 billion rubles, the economist noted “BCS Premier” Anton Pokatovich. In conditions of high volatility in the financial markets and taking into account the fact that due quarantine the Russians had to abandon trips abroad, which could be configured such accumulation, the outflow of funds from foreign currency deposits could reach elevated levels, he said.

— According to the Central Bank of the Russian Federation, in March 2020, the deposits in foreign currencies fell by $5 billion With the revaluation is about 5.3% compared to February of this year and 4.6% compared to the same period of 2019, he said.

the increase In volumes of cash in circulation is mainly determined by the desire of the population to generate sufficient quantities to meet everyday expenses in the quarantine period.

— you can Also assume that people feared that would not be able to withdraw money within walking distance due isolation. Of course, it is groundless fears, but in any case, it was easier to stock than to go out then into the street, — said the expert.

According to the Director of Bank ratings Agency “Expert RA” Ivan Uklein, the increased demand for cash was associated not only with the need to purchase commodities for the period of forced isolation.

in April, said Anton Pokatovich, the volume of cash in circulation decreased. By the way, the Nielsen monitoring this time period also marked a sharp drop in demand from the population:

In his opinion, in the future, provided the stabilization of the situation in the economy — we can expect decline of demand for “real” money.