Russian banks do not see increased demand for the currency

Russian banks do not see increased demand for the currency


The official rate of dollar established by Bank of Russia with 16 December, has reached historic heights, up to 70,83 of the ruble, according to data of the Central Bank. The previous historical maximum was set on August 25 and was 70,75 ruble.

MOSCOW, Dec 15. Russian banks do not see increased demand for foreign currency, follows from the survey of major lending institutions.

The official rate of dollar established by Bank of Russia with 16 December, has reached historic heights, up to 70,83 of the ruble, according to data of the Central Bank. The previous historical maximum was set on August 25 and was 70,75 ruble.

The savings Bank does not observe the increased demand for currency from the population, reported the press service of the largest Russian Bank.

“We have seen increased demand for foreign currency from clients of the Bank and underline that Sberbank in any situation in a timely manner provides the necessary volume of supply to its customers,” said Sberbank.

Similar situation and in Bank of Moscow, part of group VTB, the second Russian Bank assets.

“The Bank of Moscow does not lack in cash foreign currency in cash desks. The work goes in a regular mode. The demand can not be considered significant”, — said the press service of VTB group.

The press service of Alfa-Bank said that the volume of withdrawing currency from ATMs during the day were within normal limits.

The Bank “Opening” also did not observe increased demand for foreign currency, continued the chief of Department of conversion operations of Bank Artem Zotov. “The activity of citizens increased slightly, but they buy and sell the currency,” he said.

Now in the Moscow offices of the Bank set course for sale $ 70,92 EUR 77,24 and for the ruble, said the head of Department of retail conversion of the Bank Stanislav Makarov.

“In recent years we have observed the growth of cash currency conversion, however, the volume of purchases of foreign currency by the Bank from the population exceeds the volume of sales. The most popular, as always, is the dollar, Euro buy and sell in smaller volumes,” he said.

Moscow credit Bank (ICB) does not mark growth of demand for foreign exchange transactions among clients. “The Bank in the ordinary mode of conducting the exchange for regular customers and for those who first decided to use our services”, — said the press service of the ICD.

ROSBANK said that during the first two weeks of December the sale of the Bank dollars increased 22.6%, Euro – by 26.6%. Willing to sell foreign currency to the Bank, on the contrary, became less: Bank bought by 19.4% less dollars and 1.6% less than the Euro.

In turn, the agricultural Bank has not recorded excessive demand for cash currency in connection with the growth of the dollar lately. “There has been only a slight increase in the volume of transactions in comparison with previous periods this month”, — said the press service of the Bank.

A lesson to the population

The population from August 2015 to more actively began to sell, not buy, as it was in December last year after the “collapse” of the ruble, says chief ING analyst Dmitry Polevoy.

“In fact, while what we see with August — there is no panic. There is a reverse process, i.e. the population has continued to sell. Problems with income, the reduction in income (of the population — ed.) and, relatively speaking, some of the lessons learned from the volatility of last year,” notes Field.

Some citizens lost at the end of last / beginning of this year part of their savings due to the fact that panicked and rushed to buy the currency at the peak of the price growth. “The sharp weakening, then such a sharp strengthening of the ruble and a loss of money for those who panicked,” recalls Field.

There are also more fundamental reasons: the population is simply no money to buy currency in bulk, the expert continues.

“Some part of the population could use their savings in that year, i.e. at the end of the year, or transfer of savings into the currency, or to buy various goods. So very simply there is no money to various factors, such shock from the point of view of demand which is repeated”, — said Field.