The economist advised Russians to keep family savings in different currencies
During the period of increased risks and Western sanctions, no more than a third of family savings should be held in foreign currency. This was stated by financial market expert Andrey Barkhota on Monday, September 8.
He added that if the international situation stabilizes, investments in dollars and euros can be increased to half of all household investments.
"Half of the savings in foreign currency is a risk—free situation, when we have a free convertible currency, free circulation of quotations through the stock exchange. They are now over-the-counter. And in a situation where there is a closed economy and sanctions, a lower level will still be safe. No more than a third of the savings should be in foreign currency. This creates some kind of security, because the rest is either in deposits or in securities of Russian companies," the financier said in an interview with the "Paragraph".
Barkhota added that this year the dollar has actually become one of the most reliable assets. It is the cash of the American and European currencies that remains a good investment option due to the stable favorable exchange rate and the absence of a floating interest rate.
On September 5, the Central Bank of Russia extended the restriction on foreign currency cash withdrawals until March 9, 2026 due to the sanctions in force against Russia, which prohibit domestic financial institutions from purchasing the cash currency of Western countries. 360.ru .
As before, citizens whose foreign currency account or deposit was opened before March 9, 2022, are allowed to withdraw no more than $10,000 or an equivalent amount in euros, depending on the currency of the account, but no more than the balance at 00:00 Moscow time on the specified date, writes Life.Ru . The remaining funds can only be received in rubles.
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