"Net inflow was $14 billion in January-June and is estimated at $19 billion in July," said Gennady Melikyan, first deputy chairman of the Central Bank.
However, the official said that August has so far seen a net outflow.
"Foreigners are letting go of some assets, which affects the ruble rate and the stock market. I think we are close to reaching a low-point, mostly because of the political situation [the conflict between Russia and Georgia], and there is no escaping this," Melikyan said.
The official also said economic growth has started to slow down.