Macro· ★★· neutral·

Share of Russians Saving in Cash Hits 38% After Digital Ruble Launch

  • —Share of cash savings rose from 32% to 38% over 12 months
  • —Cash in circulation grew by 3.3 trillion rubles from February to September
  • —Over 220,000 digital ruble accounts opened in the first month
  • —The central bank cut its key rate from 18% to 14% over the year, reducing deposit yields
Why it matters: Rising cash demand despite the digital ruble launch signals distrust in banking infrastructure and could slow CBDC adoption in Russia.
Source: BeInCrypto RU
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