Cash circulation rises by 1.2% in Russia, lowest increase in nine years

According to the Bank of Russia's data, the amount of cash in circulation increased by 1.2% to total ₽18.7 trillion as of January 1, 2025. This marks the lowest rise in the past nine years.

Demand for cash remained steady throughout 2024, with only slight seasonal fluctuations. The first quarter saw cash returning to banks due to high deposit rates, while April and December experienced usual spikes in demand before public holidays.

There was an increase in the portion of small-denomination banknotes within the cash structure. This change resulted from the Bank of Russia resuming printing ₽5 and ₽10 banknotes, alongside modified ₽100 banknotes gradually entering circulation.