Russian banks are recording the demand for cash currency of the United Arab Emirates (UAE) among their clients.
"We have launched the service of buying/selling cash dirhams only recently, but we are already seeing growing interest from clients," the press service of Sberbank, which began selling and buying dirhams in cash a week ago, told TASS.
Sovcombank, which has been selling dirhams since last September, also said there was demand for the currency. "We saw high demand for tourism purposes on the eve of the holidays, while at the same time there is growing demand for savings diversification purposes. Restrictions on cash withdrawals encourage citizens to save part of their money in cash," Managing Director and Head of Client Operations on Financial Markets at Sovcombank Philip Agrachev told TASS.
The press service of Otkritie (the credit institution has been selling and buying dirhams since November last year) told TASS that the dirhams are mainly popular among tourists, who exchange currency at a favorable rate in advance, but there is no frenzy demand for the dirhams.
GSV "Russia - Islamic world"
Photo: Josh Appel\Unsplash
Based on materials from TASS