The Chinese yuan is most well-liked over the dollar and the euro, in keeping with a survey
The Chinese yuan is now the most well-liked international forex for financial savings amongst Russians, a survey performed by the Public Opinion Foundation has revealed.
Respondents had been requested to think about that they got a big sum of money in rubles provided that they need to convert it right into a international forex of their selection and preserve it in a financial savings account for 5 years. Roughly 32% of respondents favored the Chinese forex. The euro got here in second with 26%, adopted by the US dollar with 23%.
The yuan is the most well-liked forex amongst most age teams, besides younger individuals. Russians below 30 are extra probably to decide on euros (34%) or {dollars} (36%) for his or her rainy-day funds, whereas the yuan acquired solely 32% of votes on this age group. The yuan is the primary selection for 41% of Russians with college levels.
The prime 5 foreign currency for financial savings additionally included the British pound (3%) and the Turkish lira (2%). Other responses included the Arab dirham, Swiss franc, Japanese yen (round 2% every), in addition to the Israeli shekel and Iranian rial (1% every).
The majority of Russians (61%) choose to maintain their financial savings in rubles. Only 15% of respondents acknowledged that they might choose a international forex as a substitute of the ruble for his or her financial savings if given a selection.
The survey was performed in late July amongst 1,500 respondents over the age of 18 throughout 104 Russian cities and rural settlements.
The survey additionally touched upon the ruble’s trade fee, with half of the respondents saying they imagine that the ruble’s strengthening in opposition to Western currencies advantages the Russian financial system. They mentioned it may assist decrease costs (9%) and enhance the residing requirements of Russians (5%). Only 16% mentioned {that a} weaker ruble is extra useful for the financial system.
Earlier this week, the Russian ruble dropped to a 16-month low of 101 in opposition to the dollar and 111 to the euro. It recovered a few of the losses later within the week after the Bank of Russia hiked the important thing rate of interest to 12%.
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