In July, the reserve of foreign exchange liquidity in Russian banks was completely depleted. This opinion was expressed by analysts from Raiffeisenbank.
According to them, this figure fell by $ 5 billion and became negative, RIA Novosti reports on Monday, August 24, citing the bank’s daily analytical review.
Experts point out that the depletion of the stock occurred despite the cessation of the outflow of client funds.
At the same time, Russian banks allocated a total of $ 3.7 billion for foreign currency lending, which, according to analysts at Raiffeisenbank, is atypical, given the systematic decline in this indicator that has been observed for many years.
As a result, on credit and deposit operations, the outflow of foreign currency liquidity in July amounted to $ 3.1 billion. A similar situation was observed in June, when clients massively took funds from banks.
At the end of July, economist Vyacheslav Zaichenko expressed the opinion that the weakening of the ruble is due to the fact that during the holidays, Russians also buy foreign currency to travel abroad, so the euro and dollar are growing.
According to the expert, the second factor that affects the exchange rates is the decline in oil prices. The ruble will strengthen when the correctional decline in oil prices ends, Zaychenko said.