Nabiullina: cash dollars will circulate in Russia even in an apocalyptic scenario
Even in the most severe scenarios, the circulation of cash dollars in Russia will continue, predicted the head of the Central Bank Elvira Nabiullina during a press conference. Broadcast goes on the YouTube channel of the regulator.
“Even in such an apocalyptic, if I may say, scenario, cash dollars in the country will circulate. I can name one figure: according to our estimate, we have about 85 billion dollars in foreign currency, dollars and euros, in the hands of the population, ”she explained.
The head of the regulator noted that this currency will be purchased by banks, which will ensure its circulation. At the same time, in general, Nabiullina noted, de facto sanctions on the use of the dollar in Russia have already been introduced – this is clear from the examples of banks that have fallen under restrictions.
The press conference of the Central Bank is dedicated to the meeting of the Board of Directors held on July 22. On it, the regulator decided to reduce the key rate by 1.5 percent to 8 percent per annum.
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