Recent survey data reveal that Russians still favor keeping their savings in rubles. A substantial majority—about two thirds—prefer ruble deposits, while a smaller share leans toward dollars. The All-Russian Public Opinion Center, known as VCIOM, reports these trends based on their nationwide polling. In the same study, a small portion of respondents indicated holdings in euros and other currencies, each accounting for around four percent. A notable 27 percent of participants said they did not have any savings at all, highlighting a broad variance in personal financial behavior across the country.
Experts from VCIOM point to a clear trend: savings in rubles have shown signs of devaluation over the past eighteen months, a factor influencing how Russians allocate funds. The most recent wave of data collected from adults across Russia adds nuance to the picture, illustrating both persistent confidence in the national currency and growing unease about long-term value preservation.
In parallel findings, the Public Opinion Foundation or FOM published a similar assessment in mid August. That report indicates a slightly different balance: a majority still view rubles as the most profitable currency for savings, but the share favoring foreign currencies appears somewhat larger in the FOM sample. The contrast between these two polls underscores how attitudes toward currency risk and currency diversification can vary by methodology and time frame.
Industry commentary has occasionally suggested currency diversification as an option. A stockbroker from BCS Mir Investments has flagged the Hong Kong dollar as a potential alternative alongside the United States dollar and euro for Russians considering diversification. Such perspectives reflect ongoing debates about hedging a savings portfolio against domestic and global currency movements, especially in a climate of fluctuating policy rates and macroeconomic uncertainty.
Looking back at policy actions, central bankers have at times responded to shifting financial conditions with measures that influence savings behavior. A recent decision by the Central Bank of the Russian Federation involved adjustments to the key rate in response to evolving economic indicators. These moves, in turn, can affect the attractiveness of ruble-denominated savings and the appeal of foreign currencies as hedges or substitutes.
Taken together, the surveys portray a landscape where many Russians continue to place trust in the ruble for day-to-day and long-term savings, while a meaningful minority remains open to other currencies as part of a diversified approach. The presence of a sizable portion with no savings at all also points to diverse financial realities and levels of access to financial tools across the population.