Russian Banks See Jump in Demand for Foreign Currency, Cash
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Khanty-Mansiysk Otkritie Bank, the consumer banking arm of Russia’s second-largest private lender, saw a surge in demand for foreign currency among clients as the ruble tumbled as much as 33 percent in two days.
Demand for foreign currencies was three-to-four times above the daily average yesterday and today, Artem Zotov, the head of currency operations at the bank said by phone, adding the lender isn’t capping purchases for its clients.