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The volume of transfers from Russia fell to a minimum since May 2020




MOSCOW, 20 Jan – PRIME. The volume of transfers from Russia through payment systems in November last year fell to a minimum since May 2020, when the country ended the self-isolation regime introduced due to the coronavirus, according to the Central Bank data. Sberbank increased revenues from fees for online transfers by almost 1.5 times Transfers abroad through payment systems fell sharply in April amid the introduction of self-isolation, and then began to recover, reaching a peak in July. However, already in August the volumes began to decrease again. In November, transfers abroad through payment systems decreased by 5.6% – to $ 657 million, which was the lowest result since May last year. Traditionally, the bulk of money transfers from Russia falls on the CIS countries. In the last month of last autumn, $ 547 million was transferred to the CIS countries, which is 6% less than in October. In November, transfers to non-CIS countries through payment systems also decreased – by 5.2%, to $ 109 million. Both indicators are the lowest since May 2020. At the same time, transfers through payment systems to Russia were also reduced in the fall: in November, they completely decreased to a minimum since June last year – $ 266 million. Transfers from the CIS countries fell by 6.8% in November, to the level of July last year at $ 124 million. And money transfers from non-CIS countries decreased by 2.7%, to $ 142 million, the lowest since June.

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