The 79-year-old said she feared her stolen money would be used to buy drugs.
"If it was being used to feed a poor family then I could understand it, but not for that," she said.
The pensioner was attacked in King Street last week just moments after withdrawing £130 from a cash machine.
The thief snatched her bag and ran off towards the Moor.
It was later found near the Moor with her credit cards and house keys still inside.
On Friday the pensioner, who suffers from arthritis, spoke exclusively to the Knutsford Guardian about her ordeal.
"I didn't expect something like this to happen in the afternoon," she said.
The pensioner was the sixth elderly woman to be mugged in Knutsford in recent months.
Police have now stepped up their patrols in the town centre. "We would like to warn people not to carry large amounts of money in their handbags," said a police spokesman.
Anyone with information about any of the incidents can call the police on 01244 613620.
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