Do Russians trust the ruble?

Do Russians trust the ruble?

The majority of Russians prefer to make savings in rubles and their interest in keeping savings in dollars has fallen, the All-Russian Public Opinion Research Center reports.

Today the number of respondents who make savings in rubles is 60% (maximum for this year), while the number of Russians who have no savings dropped to 36%. 2% of Russians prefer to keep their money in dollars (as opposed to 7% last year), 1% in euros and 1% in other currencies, Interfax reports.

At the same time, Russians are losing interest in in the foreign exchange market. Today : Now 55% of Russians monitor the dollar against 37% in January (in July 2015 - 47%).

Associate Professor of Stock markets and financial engineering at Ranepa, Vasily Yakimkin, said in an interview with a Vestnik Kavkaza correspondent that choosing the ruble over other currencies is justified.

"Savings in foreign currency are very risky. Interest rates are low and there is almost no profit. If one puts them in a bank, they can be frozen; and not everyone will keep the money at home. So people decided to keep their savings in rubles, as the economy slowly climbs out of recession," the expert said.

Professor at the Department of the stock market and investment market at the Higher School of Economics Aleksander Abramov, said that the ruble is strengthening. "However, the ruble savings rates are negative today. In the largest bank, they are only 6.75%. It is too low,’’ the expert said.

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