Updated at 11:43,21-10-2020

National Bank gets down to printing money


According to the data provided by the National Bank, on January 1, 2012, the total ruble mass (cash, denominated deposits and securities) makes up Br43.355 trillion. This amount is 13.2% more than in December 2011. The amount of cash rubles in circulation increased as well.

The growth equaled 3%, though, in recent months, there has been a tendency towards reducing the volume of cash.

The volume of foreign currency deposits and securities in foreign currency amounted to Br67.84 trillion in equivalent. Thus, the amount of currency exceeds the amount of rubles by 56%.

Economist Leonid Zlotnikov said in December 2011 that the National Bank would have to undertake the next issue. According to the expert, this step will have to be taken in order to implement plans to strengthen the national currency.

"I believe there will be no tight monetary policy; lot's of factors force the government to print money", the expert said.