At the end of October, Russian savings in foreign currency exceeded the level that was before the start of the pandemic, and reached $ 95.2 billion. This was told by the head of the analytical department of the bank BKF Maxim Osadchiy with reference to the data of the Central Bank, reports RIA News…
Foreign currency savings of Russians in October increased by 1.1 percent and reached their highest level since January 2020, when citizens kept $ 96.1 billion in bank accounts. After the coronavirus pandemic was declared in March 2002, the outflow of currency from banks in the first month of the pandemic amounted to $ 5 billion.
The citizens’ love for savings in foreign currency has not weakened for the third month in a row: in August the inflow amounted to $ 0.1 billion, in September – 1.4 billion, in October – 1.1 billion. By the end of October, current accounts were replenished by 2.4 percent – to a historical maximum of $ 38.1 billion. For the second month in a row, the volume of funds of citizens on time deposits has also increased: in October it increased by 0.3 percent – up to 57.1 billion dollars. According to the Central Bank, the savings of citizens in rubles in October increased by 0.4 percent – up to 26.1 trillion rubles.
Earlier in November, Sergey Kuchin, head of personal brokerage services at BCS World of Investments, advised Russians to buy foreign currency in order to diversify their savings. The expert noted that any time is good for buying currency, and recommended buying it every month for a portion of the savings. At the same time, Kuchin warned citizens against using currency for speculative purposes.
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