Russians are still highly interested in US dollar rate fluctuations; they still expect the Russian ruble to weaken.

MOSCOW, October 2, 2018. Russian Public Opinion Research Center (VCIOM) presents the data of a monitoring study devoted to the Russians’ expectations of how much the US dollar will cost in three months/one year, and in what currency Russians keep their savings.

There is a trend towards negative expectations related to Russian ruble to US dollar rate. According to the recent data, respondents expect the exchange rate to be 72 rub. in three months (the average value based on the answers of those who specified the figure, 57%), and 75.8 rub. in a year (42%). Given that the current exchange rate of Russian ruble to US dollar is 66.4 rub., such figures were predictable. The same trends were observed in a survey a year ago. 

Over the recent years, the public interest in the foreign exchange market has stayed at 50% (based on the summer surveys); however there has been a stable decline. In September 2018, 56% of respondents said they were following the US dollar exchange rate (60% in early October 2017). Nineteen percent of respondents say they constantly check this information (25% of male respondents; 30% of residents of Moscow and St Petersburg).

The conditions for saving money remain stable compared to the same period last year: 31% of Russians report to have no savings (as in the beginning of September 2017, 33%). People tend to make savings in national currency (66%); 5% save in US dollars; 3% in Euro (12% of Petersburgers and 6% of Muscovites). Only 1% of respondents mention other currencies.   

The VCIOM-Sputnik survey was conducted on September 21, 2018. The survey involved 1,600 Russians aged 18 and over. The survey was telephone-based and was carried out using stratified dual-frame random sample based on a complete list of landline and mobile phone numbers operating in Russia. The data were weighted according to selection probability and social and demographic characteristics. The margin of error at a 95% confidence level does not exceed 2.5%. In addition to sampling error, minor changes in question wording and different circumstances arising during the fieldwork can introduce bias into the survey.

The 2016 results are based on household surveys.

* Russian Central Bank data for the specified period

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