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Poll shows more Russians saving money in rubles

November 21, 2014, 16:42 UTC+3 MOSCOW
The share of respondents keeping their savings in rubles rose to 47%, compared with 40% in the first quarter and 37% six years ago.
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© ITAR-TASS/Dmitry Rogulin

MOSCOW, November 21. /TASS/. More than half of Russians are making regular savings, with the majority keeping their money in rubles, nationwide survey results say.

Soundings recorded that every year more and more Russians were setting aside part of their earnings, the state-run All-Russia Center for the Study of Public Opinion (VTSIOM), said on Friday. The number of people saving money has increased from 36% in 2005 to 51% nowadays.

The share of respondents keeping their savings in rubles rose to 47%, compared with 40% in the first quarter and 37% six years ago. This form of savings was the most preferred among the youth (52% of those aged 18-24), working-age adults (51% of those aged 25-44), and university-educated people (54%), followed by senior citizens (41% of those aged 60 and older) and under-educated people (37%). Dollar and euro savings were attributed to 3 and 4% of respondents respectively. And less than one percent said they preferred to keep their money in other currencies.

VTSIOM statistics show growing concern among Russian citizens about an increase in the US dollar’s foreign exchange value. The share of respondents monitoring current developments in the foreign exchange market rose to 65% in the fourth quarter, compared with 52% in the first quarter.

A stronger dollar was a concern for 57%, an increase from 42% in February, according to VTSIOM. Residents of Moscow and St. Petersburg (76%) and upper-income people (62%) were among those most worried about the process. Rural residents (50%) and those with lower income levels (41%) felt some worries on that score, while some 39% of respondents said they did not care a bit about the soaring exchange rate of the dollar.

The survey was conducted on November 15-16 when 1,600 people in 45 Russian regions were interviewed. The margin of error did not exceed 3.5%

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