Residents of Chernozemye increasingly use letters of credit for transaction security

The volume of settlements using letters of credit in the Chernozem region increased by 16% over the year

According to the Bank of Russia, the volume of settlements using letters of credit in the Chernozem region increased by 16% over the year and amounted to 1.3 trillion rubles at the end of January 2023.

As the regulator explained, the growth of transactions using letters of credit in the Chernozem region is due to the increase in the number of transactions of enterprises and the population with non-residents and residents of other regions of the Russian Federation, as well as the growth of settlements in the real sector of the economy.

Most of the transactions using letters of credit in the Chernozem region fell on the Belgorod region

Thus, the highest growth rates were recorded in the Belgorod region - by 31.7%, to 531.3 billion rubles.

In addition, the volume of transactions using letters of credit in the Voronezh region increased by 20.1%, to 306.4 billion rubles; in the Lipetsk region - by 10.7%, to 212.1 billion rubles; in the Kursk region - by 14.2%, to 156.3 billion rubles; in the Tambov region - by 11.9%, to 78.5 billion rubles.