May 30, 2023


Only 11% of residents of the Southern Federal District continue to save money in foreign currencies. 19% have already got rid of their previous savings in dollars and euros. 21% are ready to open a yuan deposit in a Russian bank. These are the results of a survey* conducted by Otkritie Bank (part of the VTB Group).

44% of respondents save money exclusively in rubles. More than a third of respondents (34%) have no savings at all. 23% of respondents keep part of their savings in foreign currencies (11% continue to replenish foreign currency deposits, 12% keep their previous savings accumulated until 2022). At the same time, all currency depositors prefer the currencies of “unfriendly countries” – dollars and euros.

Of the currencies of “friendly” states, the Chinese yuan enjoys the greatest confidence among Russians. A deposit in Chinese currency is ready to be opened by 21%. The opportunity to have a deposit in dirhams of the United Arab Emirates is allowed for 7%, in Turkish lira – 2%, in Indian rupees – 1%.

28% called the yuan the most reliable foreign currency for savings in Russia. According to 18% of respondents, this currency is still the US dollar. 21% gave the palm to the euro. The UAE dirham is considered the most reliable foreign currency of savings for Russians by 5%, the Turkish lira by 4%, and the Indian rupee by 1%. 47% of respondents do not consider any foreign currency a reliable means of savings.

*The survey was conducted on April 28-May 4 among 1,000 respondents aged 18 to 65 according to a representative sample in cities with a population of over 100,000 people.

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