In June, the amount of cash in circulation in Russia hit a record $187 billion, per its central bank. Russians are hoarding cold, hard cash amid economic uncertainty, an economist told Novaya Gazeta. Compensation to families of dead fighters and increased demand in Russian-occupied Ukrainian regions also add to the cash in circulation. In June, the amount of cash in circulation in Russia hit a record 17.9 trillion rubles, or $187 billion, data from the Russian central bank shows. To tame inflation, the Russian central bank its central bank raised interest rates by one percentage point on July 21 — double the 0.5 percentage point analysts polled by Reuters had expected.

---

Persons: Igor Lipsits, there's, Alexey Zabotkin, Wagner, Nikolay Korzhenevsky Organizations: Novaya Gazeta, Service, HSE University, RBC, Wagner Group, Bloomberg, Reuters Locations: Russia, Wall, Silicon, Russian, Ukraine, —, Kazakhstan, Russia's