Russians’ Deposits in Foreign Banks Surge in Third Quarter

Russians’ foreign-currency deposits in overseas banks surged the most in at least four years last quarter, according to the central bank.

Deposits of Russian households in foreign banks increased by 1.5 trillion rubles ($21 billion) compared with 551 billion rubles in the second quarter, data published on the Bank of Russia website on Friday show. That’s a record for the figures, which go back to the beginning of 2018.

At the same time, deposit accounts in domestic banks both in local and foreign currencies shrank by 1.3 trillion rubles in total. The central bank doesn’t provide data on the currency ...