Bank Koltso Urala: People’s Trust in Ruble Depends on Exchange Rate

19 October 2012 (10:13)

October 19 The current exchange rate of the national currency against the foreign ones influences the population’s trust in the ruble greatly, OOO Bank Koltso Urala’s press service refers to the bank’s experts as saying.

‘It’s obvious that, when the ruble is getting a bit stronger, the USD quotations are either dropping or remain the same, and the level of trust increases. When the ruble is getting weaker and the dollar is rising, the level of trust goes down. On the whole, the ruble looks not bad at all in the long term when compared with the dollar/euro combination – given especially the higher interest rates the banks offer on ruble deposits,’ says Bank Koltso Urala’s Currency & Finance Transactions Director Igor Nesterovitch.

Now the Public Opinion Fund has once again surveyed a number of people on how much they trust various currencies. According to the fund’s findings, 60% of Russian citizens trust the national currency most.

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