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UAE dirham may take up to 5% in currency basket of Russians' savings — expert

The study shows that Muscovites prevail among clients with assets in dirhams

MOSCOW, February 15. /TASS/. The UAE dirham may now take up to 5% in the currency basket of Russians' savings, Vladimir Yevstifeyev, head of the analytical department of Zenit Bank, told TASS.

"The UAE dirham could become a promising currency. Even today, it can occupy up to 5% in the currency basket of Russians. Thus, the most balanced distribution of savings looks as follows: 45% in rubles, 25% in reserve currencies (dollar and euro), 25% in yuan and 5% in UAE dirhams. As infrastructure improves, the share of UAE dirhams can increase to 10% at the expense of reserve currencies," he said.

According to a study by Zenit Bank, the UAE currency is most in demand among young people aged 28 to 37 years old, accounting for 30% of those investing in dirhams. Russians aged 38 to 47 come second (29%), and Russians aged 48 to 57 rank third (24%). The share of retired persons over 69 years old who invest in dirhams is 4%.

The study shows that Muscovites prevail among clients with assets in dirhams. They are in first place by a significant margin (64%), residents of the republic of Tatarstan rank second (26%), and residents of St. Petersburg and the Leningrad Region come third (7% each). As Zenit Bank found out, the assets in the accounts of buyers of UAE dirhams, as a rule, hover around 7 million rubles ($94,000).