Russians Hold Record $81.7Bln in Foreign Bank Accounts - Central Bank
Russians had a record $81.7 billion in foreign deposits in November, up from the $30.6 billion reported at the start of 2022, according to figures released by the Bank of Russia
MOSCOW (Pakistan Point News / Sputnik - 19th January, 2023) Russians had a record $81.7 billion in foreign deposits in November, up from the $30.6 billion reported at the start of 2022, according to figures released by the Bank of Russia.
Capital flight from Russia accelerated following the start of the military operation in Ukraine.
Russians transferred some $4.
3 billion to foreign bank accounts in February. Limits on bank transactions cut the outflow to $4.9 billion between March and May, before the easing in June prompted a second run on banks, with transactions to foreign accounts topping $20 billion over the three summer months.
September recorded an all-time monthly high of $9.3 billion, followed by outflows of $5.8 billion per month in October and November.