Only One Russian of Hundred Buys Dollars Hoping the US Currency Will Grow

MOSCOW. April 10. VOSTOK MEDIA – The All-Russian Center for the Study of Public Opinion (VTsIOM – Russian acronym) together with the National Agency of Financial Research (NAFI) have released a report about preferences of Russians towards currencies: in what currency do they get wages and keep their savings, how do they estimate the course of the dollar to the ruble in the present and in the short term and what will they do if the dollar’s course falls further.
Almost all the polled – 99% – get their wages in rubles and only 1% – in a foreign currency. In 2006 the proportion was similar (98:2), said in the report.
The majority (92%) prefers to keep the savings in rubles (slightly smaller number was two years ago – 89%). In comparison with 2006, fewer people keep money in US dollars (only 2% instead of 7%), the place of dollar was overtaken by the euro (6% instead of 2%).
“Due to the dedollarzation process the interest of Russians to the dollar’s fluctuations falls. For the last two years the share of those who watch the dollar’s rate has decreased almost twice (from 22% to 12%), the amount of the respondents who check the dollar’s fluctuations from time to time remains the same (41-42%), the share of not interested in the dollar has grown (from 35% to 45%),” – sociologists say.
The Russians see the trends of currency rates quite adequately, specialists say. The relative fall of the dollar to the ruble is remarked by the two thirds of the respondents (69%). In 2006 the fall was noted by every second (51%). Only 5% (16% in 2006) consider the dollar’s rate hasn’t changed.
In case of further decrease of the dollar’s rate the major part (16%) of those Russians who possess dollar stocks will not undertake any actions. Few people will change dollars into rubles (3%), euros (2%) or other currency (1%), invest into real estate or other items (1%), or “buy more dollars while it’s cheap” (1%).
The report was made on results of the poll held by VTsIOM between March 29-30, 2008. The research engaged 1600 respondents from 153 locations in 46 territorial entities of the Russian Federation. Statistical discrepancy does not exceed 3.4%.