Russia's broad monetary base rises 4.7% in September

Russia's broad monetary base grew by 4.7% in September to 32.9777 trillion rubles as of October 1, according to data published by the Bank of Russia on October 14.

Since the beginning of 2026, the monetary base has increased by 2.3136 trillion rubles, or 7.5%. It stood at 30.6641 trillion rubles on January 1.

Cash within the monetary base rose by 348.1 billion rubles in September to 22.2346 trillion rubles. Its share nevertheless fell from 69.5% to 67.4%, as other components grew faster.

Banks' correspondent-account balances at the Bank of Russia increased by 1.7286 trillion rubles to 6.2594 trillion rubles. Credit institutions' deposits at the central bank fell by 592.5 billion rubles to 3.8962 trillion rubles.

The broad monetary base comprises cash, including banks' vault holdings, required reserves and other ruble liabilities of the Bank of Russia to credit institutions. It differs from the money supply, which includes household and company funds held in bank accounts.