The Central Bank of the Russian Federation will issue a trillion rubles

The Bank of Russia will issue a money issue of approximately one trillion rubles in December. First Deputy Chairman of the Central Bank of the Russian Federation Georgy Luntovsky told TASS.

The press service of the Bank of Russia, RBC reports, stated that we are talking about a seasonal increase in the volume of cash in circulation, which is traditionally observed at the end of the year. “We are not talking about increasing the money supply,” the Central Bank of the Russian Federation emphasized.

“In December we expect an increase in cash. We are expected to issue about a trillion rubles,” Luntovsky said.

TASS

• According to the Central Bank , as of October 1, the volume of cash in Russia exceeded 6.7 trillion rubles, the money supply amounted to 32.95 trillion rubles, having decreased by 0.2 percent compared to the previous month.
• Experts interviewed by RBC noted that growth in the money supply in December traditionally occurs every year. This, according to them, is due to an increase in budget expenditures, as well as an increase in companies’ need for rubles. At the beginning of the new year, the money supply decreases, partly due to the fact that businesses must pay taxes during this period. According to experts, the expected issue will not lead to a sharp rise in prices and an increase in inflation rates.