CB: the net demand of the Russian population for foreign currency in December

has updated the historical maximumdaily the demand of the Russian population for foreign currency in December 2014, updated the maximum for the entire observation period in 1996, an increase compared to November to 2.5% to 8.2 billion dollars. This was reported in the "Review of the status of the domestic market of cash foreign currency", published on the website of the Bank of Russia.

"Thus, in contrast to the situation in October 2014, increased demand for foreign currency was due not to growth in the volume of purchases of currency, and a sharp increase in the volume of its withdrawals by individuals from foreign currency accounts", — stated in the review of the regulator. Authorized banks to prevent panic and to avoid shortages of cash foreign currency in the market, brought into the country an unprecedented amount of foreign currency — about $ 18 billion, said the Central Bank. More than 40% of them were never claimed and remained in the tills of authorized banks, indicates the controller.

In December 2014, total demand for foreign currency in comparison with November increased more than 2 times, amounting to 20.8 billion dollars. "Its volume was greater than in December 2012 and 2013 are 1.7 and 2.2 times, respectively," reads the review.

The demand for the American currency and the Euro in December compared with the previous month increased by more than 2 times, accounting for respectively $ 14 billion, and about 6.6 billion in dollar equivalent. The structure of aggregate demand by currency remained almost unchanged (67% – dollars, 32 percent euros).

In December of last year, about 80% of the increase in total demand was due to increased withdrawals of cash foreign currency from accounts in the authorized banks. All individuals were charged $ 13.3 billion, or 2.8%, or 8.4 billion dollars, more than in the previous month.

The total supply by the population of cash foreign currency in December 2014 compared to November increased by 85% and amounted to 12.6 billion dollars. The volume of aggregate supply was more than in December 2012 and 2013, 44% and 64%, respectively. Aggregate supply a population of dollars and euros in December 2014 increased compared with the previous month, at least 86%, amounting to 8.8 billion dollars and 3.6 billion in dollar terms, respectively. The share of the dollar and the European currency in the structure of aggregate supply remained at the level of the November – 70% and 29% respectively.

"As the growth of aggregate demand, aggregate supply in December 2014 in the first place (more than 80%) was associated with the operations of the population on foreign currency accounts. For foreign currency accounts in authorized banks individuals were enrolled 8.9 billion dollars of foreign currency that in 2,2 times — to $ 4.8 billion — more than the previous month", — stated in the review.