Doesn't collapse of ruble bother Russians?

Doesn't collapse of ruble bother Russians?

The All-Russian Public Opinion Research Center (VCIOM) has conducted a public opinion poll, according to its results, the increase in the dollar and euro exchange rates does not bother the majority of Russians (60%).

Two-thirds of the survey participants (66%) do not plan to take any actions in case of further strengthening of the dollar, VCIOM said on its website.

36% of the survey participants said they are concerned by the strengthening of the foreign currencies.

23% of the respondents associate the depreciation of the national currency with anti-Russian sanctions.

If the dollar exchange rate continues to increase, 12% of VCIOM research participants said that they will save money for small needs, 8% - plan to invest in real estate or other valuables.

According to the survey results, the overwhelming majority (94%) did not acquire any foreign currency in the last one-two months.

The professor at the department of the stock market and investments at the Higher School of Economics, Alexander Abramov, speaking to a correspondent of Vestnik Kavkaza, explained that the Russians' relaxed attitude about the national currency fluctuation is linked to two factors. "First, as a whole, Russian citizens have become more passive in the foreign exchange market and, lately, they have been paying less attention to foreign exchange operations, partly because there have been stability in previous months. Second, everyone has an internal confidence that the current increase in the dollar exchange rate will mostly be won back in a short time," the expert said.

Commenting on a possible jump in inflation, he explained that much depends on anti-Russian sanctions here, the situation with which is unpredictable. "But if one evaluates what has been done, it seems to me that basically the ruble will gradually win back the lost level, and the dollar will cost 57-58 rubles . It's complicated, it means losses, but in general the state is interested in demonstrating to the world that it's doing nothing. We have the resources to demonstrate this," the economist said.

As for possible US sanctions against the state debt, according to the expert, this is a coffee cup reading, and at the moment it does not make sense to discuss this issue.

The advisor on macroeconomics to the CEO of the 'Opening-Broker' brokerage house, economist Sergey Hestanov, in turn, noted that the Russians' relaxed attitude about the decline in the ruble exchange rate is due to the fact that it was not too long. "In addition, a significant number of people do not have savings and do not have the opportunity to buy currency. Usually, a sharp reaction is possible after a sudden exchange rate jump during a long period of relative prosperity, like in the end of 2014," the expert said.

Speaking about the surge of inflation against the background of the depreciation of the ruble, he stressed that its intensity will depend on the currency.

In addition, he noted that possible US sanctions against the Russian national debt will not affect  the ruble exchange rate. "Foreigners have about $15 billion of this debt, we have reserves of $450 billion, even more. Our national debt is small, and the share of this public debt in the hands of foreigners is even smaller," Sergey Hestanov concluded.

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