Russians fell in love with savings in foreign currency

RIA Novosti: Russian foreign exchange savings in October exceeded the level before the pandemic before the pandemic, and reached $ 95.2 billion. This was told by the head of the analytical department of the bank BKF Maxim Osadchiy, citing data from the Central Bank, RIA Novosti reports.

Foreign currency savings of Russians in October increased by 1.1 percent and reached their maximum level since January 2020, when citizens kept $ 96.1 billion in bank accounts. After the announcement of the coronavirus pandemic in March 2002, the outflow of currency from banks in the first month of the pandemic amounted to $ 5 billion.

The love of citizens for saving in foreign currency has not subsided for the third month in a row: in August, the inflow amounted to $ 0.1 billion. in September – $ 1.4 billion, in October – $ 1.1 billion. By the end of October, current accounts were replenished by 2.4 percent – to a historic high of $ 38.1 billion. For the second month in a row, the volume of funds of citizens on time deposits has also increased: in October it increased by 0.3 percent – up to 57.1 billion dollars. According to the Central Bank, citizens' savings in rubles in October increased by 0.4 percent – up to 26.1 trillion rubles.

Earlier in November, the head of the personal brokerage service at BCS World of Investments Sergey Kuchin advised Russians buy currency to diversify your savings. The expert noted that any time is good for buying currency, and recommended buying it every month for a portion of the savings. At the same time, Kuchin warned citizens against using currency for speculative purposes.