Elvira Nabiullina: the appearance of the digital ruble will not affect lending rates

The digital ruble will not cause an outflow of funds from credit institutions, said Elvira Nabiullina, head of the Russian central bank. The electronic version of the national currency will also not have an impact on the rates on loans and deposits, since they directly depend on the level of inflation and the monetary policy of the state.

She also noted that after the final decision on the integration of the new asset into the country’s financial system, its implementation will be carried out by the authorities gradually. A smooth transition will allow people and companies to painlessly accept the new asset, and as it is recognized, the role of the digital ruble will only increase, Elvira Nabiullina concluded.