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Rouble confidence is up

Only 22 percent of Russian families had saving in 2008. That number rose to 27 percent in 2010, and increased again to 30 percent at the present time, according to the Levada Center research organization. Yet, the bulk of Russia’s population in 45 regions of the country claim to have no savings at all.

Levada Center researchers, who conducted a savings survey, indicated that most Russians prefer saving in roubles, while expressing opposition to any legislative initiatives that the U.S. dollars be banned. As such, Russian citizens generally prefer to have free access to the dollar and the euro.

Rouble-denominated savings rose from 83 percent to 89 percent during the past three years, while savings in dollars fell from six percent to two percent and in euros from four percent to one percent since 2010. Balanced

savings portfolios, which include all three currencies – the rouble, the dollar, and the euro – increased from three percent to six percent. The rouble is considered the most profitable and safest way to save money, according to half of the Russian citizens surveyed. A year ago, only 36 percent of survey participants felt secure about the rouble. The euro is considered stable by 10 percent of the population, up from only eight percent a year ago. The Russian public’s trust in the dollar dropped from nine percent to five percent. Mixed currency portfolios have been favored by only 16 percent of those surveyed, down from 22 percent last year. 55 percent of the Russian citizens surveyed in the country’s 45 regions, reacted negatively to the proposal of the Liberal Democratic Party to ban the U.S. dollar. Only 26 percent of the people approved the proposed measure, while the rest remained neutral. 

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