Panicked Russians withdrew 100 billion rubles from banks during the Wagner revolt, central bank says
The Wagner Group's march on Moscow late last month sparked a massive surge in withdrawals from the country's banks, Russia's central bank said on Tuesday.moved out of banks throughout June, a fifth of that was pulled from June 23-25. That's as the Wagner Group, a mercenary organization led by Yevgeny Prigozhin, turned its forces towards the Russian capital after disputes arose with the nation's top brass.
Though the act ended after a day, the political uncertainty it set off prompted fearful Russians to withdraw $1.1 billion worth of rubles. According to the Russian central bank, that's the highest cash demanded since late 2022, when Russia introduced aThe bank signaled that there were no policy disruptions caused by the liquidity outflows, though it may take the event into account when considering future banking operations.
Wagner's uprising also pushed Russians to search for foreign alternatives to the ruble, with demand for foreign moneySpeaking on Thursday at a St. Petersburg conference, Bank of Russia Governor Elvira Nabiullina indicated and support the ruble's exchange rate. In her outlook, its slide is the cause of an imbalance of trade.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russians scrambled for cash amid fears of Putin's oustingRussians withdrew $1.1 billion from banks during the Wagner mercenaries marched on Moscow.
Read more »
'Super' becomes Seventeen's fastest MV to hit 100 million views on YouTube | allkpopSeventeen have achieved a new YouTube milestone with their latest release!On July 11 KST, the group's music video for 'Super' ra…
Read more »
Twitter's New Rival Threads Hits 100 Million Users in 4 DaysZuckerberg's Threads has attracted over 100 million users less than four days after launch. Will it overtake its rival platform, Twitter?
Read more »
Threads hit 100 million users faster than ChatGPT, but Meta is cheatingMeta's Threads reached 100 million users in five days, outperforming ChatGPT - but the Twitter rival's achievements are misleading.
Read more »
Dow rises more than 100 points Tuesday ahead of key inflation data, earnings: Live updatesU.S. stocks rose Tuesday, after the major averages snapped a three-day decline, as traders awaited key inflation data slated for release later in the week.
Read more »
These are the 100+ best Amazon Prime Day 2023 deals to shop right nowThese are the 101 best Amazon Prime Day 2023 deals to shop right now
Read more »