Despite Russian authorities' 'dedollarisation' drive, the
share of dollar and euro deposits in Russian banks remains high,
the central bank said, and significantly higher than deposits in
Chinese yuan, which has developed a stronger role in Russia's
economy in the past year.
(Reporting by Elena Fabrichnaya; Writing by Alexander Marrow;
Editing by Andrew Heavens)
MOSCOW, April 11 (Reuters) - Russians' foreign currency
deposits held abroad exceeded those held domestically in 2022,
the central bank said on Tuesday, driven by Western sanctions,
FX transfer commissions and a push by Moscow to reduce dollar
assets in the country.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.