Russia's broad monetary base increases 3% in June - Central Bank

MOSCOW. July 14 (Interfax) - Russia's broad monetary base increased 3.0% or 727.9 billion rubles during June 2023 to 24.929 trillion rubles, the Central Bank said in information posted on its website.

The broad monetary base rose 2.0% or 500.6 billion rubles in January-June, from 24.429 trillion rubles at the start of the year.

The annual growth rate rose to 30.1% as of July 1 - the most since 36.3% on August 1, 2018 - from 29.7% on June1.

Cash in circulation grew 459 billion rubles or 2.6% during June to 17.797 trillion rubles. It rose 1.45 trillion rubles or 8.9% in H1 2023, from 16.348 trillion rubles on January 1.

Year-on-year growth quickened to 26.8% as of July1 - the most since 27.5% on March 1, 2022 - from 24.1% on June 1.

Cash fell to 71.4% from 71.6% of the monetary base during June.

Funds placed by banks on Central Bank correspondent accounts rose 22.7% or 759.8 billion rubles to 4.105 trillion rubles and funds held by banks on deposits with the Bank of Russia decreased 15.1% or 491.1 billion rubles to 2.755 trillion rubles.