Russian Demand for Dollars Soars Amid Ukraine Crisis | News | The Moscow Times:
"Consumers' desire for dollars and euros soared in March this year amid Russia's annexation of Crimea and escalating political and economic tensions with the West.
Demand for foreign cash grew almost 1.5 times from February to March, reaching $14.3 billion, the highest level since January 2009, according to a report published by the Central Bank. This number incorporates purchases of foreign currency in authorized banks, currency conversions and cash taken out of foreign currency accounts.
The report associates this spike in demand with "the continuing depreciation of the ruble against the primary global currencies and uncertain expectations as to its further movement.""
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