Thus, according to the regulator, the volume of cash in circulation received through banks increased by 366.9 billion rubles - this is the sharpest cash outflow since the beginning of the year.
If we exclude the seasonal increase in cash in circulation at the end of the year, the figures are comparable to last June (391.8 billion rubles), when Russia began to lift restrictions on coronavirus.
According to Yegor Susin, head of the Gazprombank's Strategy Development Center, before the May holidays, the country has traditionally seen an increase in demand for cash, but this year the outflow turned out to be about 100 billion rubles higher.
The expert does not exclude that one of the reasons was the increase in the number of days off in May.
In addition, he recalled the effects that arose during the pandemic: the low attractiveness of deposits and the enlargement of the gray segment of the economy.
Earlier, the Central Bank said that over the past seven years, the use of paper money by Russians when paying for goods and services has decreased by almost three times.