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Cash circulation in Russia
Cash supply
2020
12.431 trillion rubles
According to the Central Bank, as of July 1, 2020, the volume of cash supply reached a new historical record of 12.431 trillion rubles.
Since the beginning of the year, 1.802 trillion rubles have been sent into circulation in the form of banknotes, and the total number has reached 6.613 billion copies. The rain from cash that fell over the economy consisted exclusively of 5,000 bills: their share in circulation increased from 77% to 78%, and the number - from 4,373 to 5,185 billion units.
Taking into account how each banknote weighs about 1 gram, in total, the economy received 812 tons of new banknotes in denominations of 5,000 rubles.
At the beginning of summer, the central bank predicted that the demand for cash would return to normal values after the abolition of quarantine measures, and the cash received by the economy would gradually go out of circulation after it was spent by consumers and collected by banks.
But the operational statistics of the Central Bank show that it is not possible to take control of the process. In July and the first half of August, the volume of cash at the cash desks of banks and outside the banking system increased by another 395.8 billion rubles, and the total amount of cash in circulation probably exceeded 12.8 trillion rubles.
People and businesses go to cash, fleeing the crisis - through the informal economy and gray turnover, says Yakov Mirkin, head of the capital markets department at IMEMO RAS.
10.6 trillion rubles in cash circulation
In general, the volume of cash in circulation as of January 1, 2020 amounted to 10.6 trillion rubles. Over the year, this figure increased by 304.4 billion rubles, according to data from the Bank of Russia.
The structure of cash supply in 2019 changed slightly: the share of five thousandth bills (from 24 to 26%) and the share of 200-ruble (from 2 to 3%) increased. At the same time, the shares of 500-ruble (from 9 to 8%) and 1000-ruble (from 27 to 25%) banknotes decreased.
2019: The volume of rubles in circulation is $150 billion
The gold supply as of August 2019 is $8.7 trillion, the US dollar supply is $1.7 trillion. The volume of rubles in circulation is $150 billion.
Settlements in rubles
2022: Hong Kong electronics suppliers start accepting payments in rubles
Nikita Kazarinov, general director of Shuttle Logistics, said that electronics suppliers from Hong Kong recently began accepting payments from Russian companies in rubles. This became known on July 15, 2022. Read more here.
2019: Ruble settlements rise in trade with China, Turkey
Digital ruble
Main article: Digital ruble
2024: Depreciation against the US dollar by 61% over 10 years
2023: Depreciation against the dollar at the end of the year
2022
Growth against all major currencies at the end of the year
At the end of 2022, the ruble grew by 6.84% against the dollar, by 18.26% against the yuan and by 13.76% against the euro.
Due to the restrictions of the Central Bank, the ruble ceased to be a freely convertible currency
Since mid-2006, the ruble has been a freely convertible currency (SLE), which only about two and a half dozen countries in the world possess, even the yuan is not a freely convertible currency.
In March 2022, the Central Bank introduced a number of restrictions on the movement of capital and currency, which led to the loss of the role of freely convertible currency by the ruble.
Record course jump since 1998
A record jump in the course since 1998 against the background of a special operation of the Russian Armed Forces in Ukraine.
2021
Central Bank of Ukraine banned banks from accepting Russian rubles to replenish deposits
On October 20, 2021, it became known that the National Bank of Ukraine (NBU) banned the country's banks from accepting Russian rubles to replenish deposits. The regulator's decision will come into force in a month - November 21. Read more here.
Goldman Sachs: the ruble is the best currency in emerging markets
On October 19, 2021, Goldman Sachs called the ruble the best currency in emerging markets. According to investment bank analyst Zach Pandl, the Russian currency has enough opportunities for a stable rise in oil prices, despite the fact that uncertainty reigning in the Chinese economy does not affect the ruble.
 | We prefer oil-related assets - the Canadian dollar, the Russian ruble. We believe that in the coming months, the most sustainable rally will be in oil and copper prices, they will be the leaders in growth in 2022, "Pandl said in a conversation with CNBC. |  |
The analyst noted that the ruble will be able to grow even stronger if Russia manages to take control of the last wave of the incidence of COVID-19.
Earlier in October 2021, Bloomberg, citing experts, also reported that high energy prices make shares of Russian export-oriented companies the most attractive for investment, which should also affect the strengthening of the Russian ruble.
Earlier, Goldman Sachs analysts recognized the ruble as the best currency for profitability in 2021. According to them, the currencies of developing countries as a whole will demonstrate good results, and the Russian ruble will provide the maximum profitability from long positions. Experts expect that the depreciation of the dollar in 2021 will be 6%.
By October 20, 2021, relative to the beginning of the year, the dollar against the Russian ruble decreased by 4%, and from October 20, 2020 - by 8.2%. In October 2021, Russian President Vladimir Putin, speaking about the situation with the ruble and prospects, asked citizens to ignore the dynamics of the Russian currency, noting that its stability is the main factor. According to the head of state, the ruble exchange rate remains stable, including thanks to the measures taken by the Central Bank.[1]
2021
Central Bank of Ukraine banned banks from accepting Russian rubles to replenish deposits
On October 20, 2021, it became known that the National Bank of Ukraine (NBU) banned the country's banks from accepting Russian rubles to replenish deposits. The regulator's decision will come into force in a month - November 21. Read more here.
Goldman Sachs: the ruble is the best currency in emerging markets
On October 19, 2021, Goldman Sachs called the ruble the best currency in emerging markets. According to investment bank analyst Zach Pandl, the Russian currency has enough opportunities for a stable rise in oil prices, despite the fact that uncertainty reigning in the Chinese economy does not affect the ruble.
| | We prefer oil-related assets - the Canadian dollar, the Russian ruble. We believe that in the coming months, the most sustainable rally will be in oil and copper prices, they will be the leaders in growth in 2022, "Pandl said in a conversation with CNBC. | |
The analyst noted that the ruble will be able to grow even stronger if Russia manages to take control of the last wave of the incidence of COVID-19.
Earlier in October 2021, Bloomberg, citing experts, also reported that high energy prices make shares of Russian export-oriented companies the most attractive for investment, which should also affect the strengthening of the Russian ruble.
Earlier, Goldman Sachs analysts recognized the ruble as the best currency for profitability in 2021. According to them, the currencies of developing countries as a whole will demonstrate good results, and the Russian ruble will provide the maximum profitability from long positions. Experts expect that the depreciation of the dollar in 2021 will be 6%.
By October 20, 2021, relative to the beginning of the year, the dollar against the Russian ruble decreased by 4%, and from October 20, 2020 - by 8.2%. In October 2021, Russian President Vladimir Putin, speaking about the situation with the ruble and prospects, asked citizens to ignore the dynamics of the Russian currency, noting that its stability is the main factor. According to the head of state, the ruble exchange rate remains stable, including thanks to the measures taken by the Central Bank.[2]
2020: Devaluation to the euro by 33%, to the dollar by 21%
In 2020, the ruble closed the worst year in the last 6 years. Since the beginning of the year, the dollar has grown by 21%, the euro - by 33%.
In the first 7 months of 2020, foreigners dumped 900 billion rubles on the Moscow Exchange.
As a result, for the entire period on the Moscow Exchange sold:
- in September - 88.5 billion rubles.
- in August - 127.1 billion rubles.
- in July - 153.2 billion rubles.
- in May-June - 76.2 billion rubles.
- in April - 108.9 billion rubles.
- in the period from March 10 to April 8 - 354 billion rubles.
2019: Ruble undervalued by 65%
In July 2019, the Economist published the Bigmac Index. Based on the price of a sandwich in different countries of the world and the exchange rate, the authors of the study found out the fair value of the American dollar.
According to the study, it turns out that the ruble exchange rate is 64.5% higher than the real value of the Russian currency. This is more than the Ukrainian hryvnia, Romanian lei, South African rand and Malaysian ringgit.
The authors indicate that if in the USA Bigmak costs $5.74, then in Russia - 130 rubles or a little more than $2.
2013: Accelerating devaluation
Since the end of 2012 until August 2013, the ruble lost about 9% to the equilibrium basket of the dollar and euro, second only to the South African rand (22% weakening), Brazilian real (-20%), Indian rupee (-18%) and Turkish lira (-12%).
But for the entire post-crisis period (since the end of 2009. until August 2013), the ruble sank only 5% against a drop of 35-36% in the South African rand and Brazilian real, 33% in the Indian rupee, 27% in the Turkish lira and 6-14% in CEE currencies. That is, the correction of the ruble in 2013 only compensates for its stability before that[3].
1988: "Disarmament coins" in denominations of 1 ruble-dollar
1698 - 1704: Decimal principle of money account for the first time in Europe
Chronologically, the first European state to introduce the decimal principle of a money account is Russia. During the monetary reform of Peter I (1698-1704), a silver ruble equal to 100 kopecks was established in monetary circulation (both the ruble and the penny existed earlier, but the ruble only as a monetary unit, and the penny was a secondary denomination, since the money account was primarily in dengas and altyns, respectively 1/2 and 3 kopecks). However, in European countries this event went almost unnoticed, and they still minted coins for almost a century, subordinate primarily to the principle of £ sd. According to it, the largest monetary unit is equal to 20 smaller ones, which in turn are divided into 12 even smaller ones (for example, 1 livre = 20 su = 240 denier). The role model was not Russia, but France and the United[4].
1690: Ruble coins do not yet exist
Before Peter I and at the beginning of his reign, the ruble was used only as a counting unit - such a coin as the "ruble" did not exist. The ruble was divided into 100 kopecks, each penny in half, the half-kopeck coin was called "money." This money (by the way, it was minted from silver) was the main monetary unit with which trade was carried out within the country. That is, the ruble - 200 such money - looked like a bag of coins.
Why the ruble is falling or growing
Main article: Why the ruble is falling or growing
Microbes on banknotes
Rospotrebnadzor In December 2019, they announced the danger of cash for Russians. It said it was dangerous to receive cash because of the risk of contracting the flu. Banknotes are a "hotbed of infection."
Scientists of Rospotrebnadzor found out that banknotes are an excellent hotbed of infection. The flu virus persists on them for up to two weeks.
A study conducted ten years ago by the N.F. Gamaleya Research Center for Epidemiology and Microbiology revealed 34 species of pathogens on banknotes that cause tuberculosis, pneumonia, meningitis and many other unpleasant diseases.
Notes
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