19:20, 1 December 2008 Page views 286 views

Outflow from the Russian Banks Lessens

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In the period of November, 1- 25, 2008, the net outflow of deposits from the Russian banking system lessened, and did not exceed 0.5 %. The parameter appeared to be considerably less than in October, when the outflow from the domestic credit and financial establishments was in the country on average equal to 6 % of private persons’ deposits, or 300-350 billion rubles. Citizens withdrew from their accounts mostly rubles and because of fears of a possible devaluation of the national currency, converted them into dollars and euros. At that, practically nobody opened new accounts.

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