Page 93 - RusRPTNov23

8.1.3 Deposits
In September, the funds of companies saw an increase of 332 billion rubles, representing a growth of 0.7%. This growth was primarily observed in the oil and gas, metallurgical, and energy sectors.
Both ruble-denominated (up 199 billion rubles, or 0.5%) and foreign currency balances (up 1.4 billion USD, or 133 billion rubles in the equivalent, or 1.2%) experienced growth. The influx of foreign currency funds has been ongoing for the third consecutive month, with a 2.8% increase in August and a 2.4% increase in July, primarily among exporting companies. However, it is expected that foreign currency balances may decrease in the coming months due to the introduction of mandatory foreign currency revenue sales requirements in October.
The growth of funds held by the population in September showed a slight acceleration compared to August, increasing by 1.0% from 0.8%.
The growth was primarily seen in ruble-denominated balances, which increased by 488bn rubles, marking a 1.3% rise. Notably, there continued to be a shift of funds from current accounts (down 471bn rubles, a decrease of
93 RUSSIA Country Report November 2023 www.intellinews.com