A recent survey conducted by analysts from the Public Opinion Foundation reveals a clear preference among Russians for keeping savings in rubles. In fact, 61 percent of respondents indicated rubles as their most profitable money storage, while only 15 percent favored foreign currencies. The results were reported by the foundation, summarized to highlight current attitudes toward currency resilience and national financial confidence. (Public Opinion Foundation)
The survey’s scope was broad, covering 1,500 adults aged 18 and over across 104 cities as well as rural communities in 53 regions of the Russian Federation. Respondents faced a hypothetical choice: if their savings could only be converted into foreign currency, which currency would they choose? The majority favored the Chinese yuan, with 32 percent selecting it as their preferred foreign option. Close behind, 26 percent chose the euro, and 23 percent opted for the U.S. dollar. (Public Opinion Foundation)
Earlier commentary from Dmitry Babin, a stockbroker associated with BCS Mir Investments, suggested that the Hong Kong dollar might serve as an alternative to the euro and the U.S. dollar for Russians. This idea has circulated in market discussions as a potential diversification strategy for currency exposure. (Public Opinion Foundation)
In the spring, the Hong Kong dollar appeared among Russia’s five most popular currencies in a separate poll conducted by Finam. The ruble held the leading position at 34.9 percent. The U.S. dollar stood at 28.3 percent, making it the second most popular choice. The yuan ranked third with 17.4 percent, and the euro trailed with 8.4 percent of respondents expressing preference for it. These results illustrate how currency sentiment shifts with perceived stability and global economic dynamics. (Public Opinion Foundation)
The currency discussion unfolds alongside a broader macroeconomic backdrop. Not long before these surveys, the Central Bank of the Russian Federation made a notable policy move by sharply increasing the key rate to 12 percent in an unscheduled meeting. The decision echoed through markets and households, influencing perceptions of risk, savings behavior, and the appeal of different currencies. (Public Opinion Foundation)
Taken together, these data points underscore how savings behavior in Russia interacts with currency expectations, perceived stability, and central bank actions. They reveal a tension between the instinct to preserve value in a familiar domestic currency and the practical curiosity about diversifying holdings via foreign currencies. The Chinese yuan emerges as a focal point in this conversation, reflecting broader global currency flows and the impact of regional economic integration. The euro and the dollar remain central reference points, with consumer sentiment shifting in response to geopolitical developments and monetary policy signals. (Public Opinion Foundation)
For policymakers, financial institutions, and individual savers, the pattern suggests that currency choice is influenced by a mix of trust in domestic institutions, confidence in international markets, and the anticipated effects of monetary policy on inflation and purchasing power. As the ruble’s trajectory evolves and as global exchange-rate dynamics continue to shift, the questions over which currencies to hold may become more nuanced, balancing liquidity, accessibility, and risk. (Public Opinion Foundation)