Russia Cashless Payments Share Dips to 88.4% as Cash Demand Rises

The Central Bank of Russia reported that cashless transactions fell to 88.4% of retail turnover in Q2 2026, down 0.5 pp, citing increased demand for cash. This marks a reversal of the long-term trend toward cashless payments, potentially reflecting economic uncertainty or shifts in consumer behavior. The development is notable for its implications on monetary policy and financial stability, though the magnitude is modest.