Stanislav Bliznyuk, Chairman of the Board of Tinkoff Bank, said that for many years the dollar was perceived as one of the most reliable tools for savings, but now it is quickly becoming a source of risk for depositors.
According to him, the risk of keeping savings in dollars comes from the inability of Russian banks to make dollar payments without using the infrastructure of American banks. The possibilities of the banking sector of the Russian Federation for the storage and investment of currencies are also currently limited.
Bliznyuk noted that the introduction of commissions and various restrictions on foreign exchange transactions are not a bank’s way of making money, but a call to change customer behavior patterns. In terms of SWIFT transfers, this is the only way to preserve the possibility of currency transfers, as counterparties have significantly tightened working conditions and lowered transaction limits.
At the same time, according to him, there are more suitable alternatives for saving in foreign currency.
So, for example, in the current situation, you can only withdraw cash from ATMs or make SWIFT transfers to your own account or to a relative’s account in a foreign bank within the limits of the bank. You can also transfer your savings in dollars and euros to alternative currencies or invest in precious metals.
It is also worth considering the possibility of trading futures for dollars, precious metals, oil or natural gas instead of dollars. You can also buy stocks and bonds. The Chairman of the Board of Directors of Tinkoff Bank emphasized that there are good ruble stocks with high dividend yields. He reminded that investment analysts constantly create collections of investment instruments with different risks for every taste.
“As we have seen, the reality today is that the choice of currency savings must be approached very carefully. But with the development of the financial sector, there are more alternatives. For example, in the near future, clients will have the opportunity to invest in Hong Kong stocks, where the risks of holding will be significantly lower than holding the dollar.”
Source: Gazeta
