The main reasons for Russians’ dependence on the dollar and euro 10:35

Nikolai Kuznetsov, associate professor of the Department of Finance and Credit at the Institute of Economics and Finance at the State Business University, said that one of the main reasons for Russians’ continued loyalty to the dollar and euro is travel abroad. His words were quoted by the agency “Hit the primer”.

The economist explained that due to problems with non-cash payments with Russian cards in other countries, passengers from the Russian Federation are forced to carry cash with them.

“Today, the same notorious UnionPay cards in yuan are not issued by all banks, and they are not accepted everywhere abroad either,” Kuznetsov said.

Another reason for Russians’ commitment to the currency is their desire to protect their savings from inflation. The associate professor said that citizens of the Russian Federation bought dollars and euros using old methods, but now there are more reliable and profitable instruments such as bank deposits. According to him, this is due to the lack of financial literacy among the public.

In Russia since the beginning of June started A new wave of increases in deposit interest rates. More than ten major banks have already increased interest rates.

Previously recognizedHow much do Russians lose when hiding money “under the pillow”?

What are you thinking?

Source: Gazeta


More from author

California governor orders homeless camps removed from state streets 9:09 p.m.

California Governor Gavin Newsom has signed an executive order requiring officials to clear the city's streets of homeless encampments, the publication reports San Francisco...

It was learned that the salaries of IT specialists in Russia were cut 16:41

Russian IT specialists started earning less this year. This was reported by DEA News With reference to data from HR holding Ventra. It was noted...

Unidentified persons threatened to blow up a residential building in Dagestan 21:14

In Kaspiysk, Dagestan, unidentified people have barricaded themselves in a multi-storey residential building and are threatening to explode. This was reported by Telegram channel...

Military use envisaged for Chinese spacecraft 19:45

An unmanned, reusable spacecraft developed in China could be used for military purposes, the agency reports Reuters. "It obviously has military applications, including, for example,...