Recent findings from a nationwide survey conducted by the SuperJob job search service reveal telling attitudes toward savings currencies among Russians. A notable portion, about 43 percent, still regard the ruble as the best instrument for storing value over time. This sentiment sits alongside a broader trust in the national currency, with 60 percent of respondents indicating confidence in the ruble as a savings vehicle. Yet there is a clear and measurable diversification in preferences: 37 percent prefer to park savings in dollars, while 30 percent see euros as a viable option. These figures point to a currency landscape where tradition and global options coexist within household financial planning.
The survey also sheds light on how age influences currency confidence. Among Russians aged over 45, the ruble’s stability is a persuasive factor for savings. In contrast, younger adults, those under 34, show greater inclination toward the dollar and the euro, with 44 percent and 39 percent respectively expressing trust in these currencies. Over the past year, analysts noted a shift in perception: the ruble’s popularity slipped by about four percentage points, while confidence in the dollar rose by roughly three points and belief in the euro increased by around four points. These shifts suggest evolving attitudes toward currency risk, inflation expectations, and the role of government policy in shaping long‑term value retention.
On June 17, statements from key policymakers emphasized the ruble as a reliable option for cash savings. Anton Siluanov, the head of the Ministry of Finance, asserted that storing savings in rubles remains a practical and stable choice within the current financial environment. He also highlighted the growing number of ways to hold savings in the national currency through various domestic channels, underscoring a policy emphasis on promoting ruble-denominated assets and savings products. These remarks reflect ongoing government messaging aimed at supporting confidence in the ruble amid a shifting macroeconomic landscape.
Elvira Nabiullina, formerly the president of the Bank of Russia, has also advised Russians to keep savings in rubles. Her guidance centers on preserving purchasing power—the idea that the ruble can sustain the ability to buy goods and services over time. In the context of inflation dynamics and domestic financial markets, this perspective reinforces the notion that ruble-based savings can protect a household’s real income and future consumption capacity when currency markets experience volatility. The combination of official guidance and market behavior suggests a nuanced view: the ruble remains foundational, but diversification into foreign currencies persists among a portion of savers as a hedge against domestic risk.
In sum, the landscape of savings currencies in Russia shows a blend of loyalty to the ruble and a pragmatic openness to dollars and euros. The evolving mix mirrors broader economic policies, inflation expectations, and generational shifts in risk tolerance. For many households, the ruble remains a touchstone of financial stability, while others diversify to preserve purchasing power in different pricing environments. The conversation around currency choice continues to reflect both tradition and adaptation in a changing global economy.