Russian central bank: retail forex deposits dropped to a historical low by the start of Q4


© Reuters. FILE PHOTO: National flag flies over the Russian Central Bank headquarters in Moscow, Russia May 27, 2022. REUTERS/Maxim Shemetov/File Photo

MOSCOW (Reuters) – Russia’s central bank said on Tuesday that retail foreign currency deposits dropped to a historical low by the start of the fourth quarter, while cash outflow from the banking system had almost stopped by the end of October.

Increased demand at the central bank’s recent REPO auction was due to some banks’ “temporary” issues with managing liquidity, but the increase in the REPO limits should help to stabilise situation, it added.

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