Large Russian banks raise interest rates on deposits, thereby stocking up for the future with domestic currency.

According to Vedomosti, from 1 to 18 November, the return on deposits in rubles was raised by 15 of the top 30 credit institutions.

It is noted that some financial institutions have increased the rates of previously existing deposits, while others have decided to introduce seasonal deposits.

Analysts predict that banks will continue to raise rates until the New Year.

Earlier, Vice-President of the Central Bank of Russia Vasily Pozdyshev said that at the end of 2018, the Bank of Russia expects at least a 4% increase in deposits in the banking system.

In addition, several days ago, the media reported that the largest Russian banks, fearing that the continuation of the outflow of public resources and new international sanctions, had decided to increase the interest of citizens to dollar deposits by raising interest rates. Thus, today the best offers are approaching the rate of 4% per annum.

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