With the fact that crisis phenomena are already evident in the Russian economy, hardly anyone now dares to argue. Purchasing power is rapidly declining, currency volatility amazes even the most skeptical imagination, banks frantically increase interest rates on deposits.
In such a situation of extreme instability, people who have more or less impressive savings, again turn to the question: "What is the best way to save money?" Despite the clear anti-American rhetoric, which has been particularly aggressive in the last few years after the Yugoslav crisis, the dollar was perceived by the majority of more or less financially savvy citizens as the most reliable. In the zero years, the euro began to act as a parity for the safety of funds. However, recent events in world markets again raised the question of what currency to store money in.
Panacea for financial troubles
The ruble showed its Russian copyright holders its character from a very different perspective. The graphs of its depreciation and strengthening clearly demonstrate the cardiogram of growing hopes or rapidly increasing optimism of Russian citizens. And nevertheless, no matter what the “wooden” one is experiencing, it is a national currency and can bring quite good income if you know what to do with it. And if you are wondering in what currency to save money now, go over your eyes on the advertising posters of banks.
In the wake of the crisis, which is gaining momentum, the rates on ruble deposits have traditionally begun to rise sharply. This is due to the obvious war of credit organizations for the client. Another reason is the extremely high risk of growth in bad loans. And the need for an airbag is increasing dramatically. To reduce the likely balance sheet holes, banks are forced to "go to the people" for liquidity. The only way to attract customers is to raise bids.
It is necessary to decide whether to store money in a bank based on the amount and probable terms. Given the weakening of the ruble and rising deposit rates that seek to cover inflation, it is better to consider long-term ruble deposits. In this case, they will be much more profitable than any currency deposits at which rates will never be so high. The annual income on ruble deposits may amount to 8%. So if there is no purpose to weld here and now, you can and probably need to store money in rubles.
Three is better than one
Even in the crisis of 2008-2009, representatives of the Russian financial establishment did not recommend, figuratively speaking, putting all their eggs in one basket. It was proposed differentially to approach the solution of the problem "in what currency to store money". Today, this advice also remains valid.
In particular, Sberbank advises creating a basket of three currencies, where half of the savings will fall on a ruble deposit, and a quarter on a dollar and a euro. Such a solution can, in extreme cases, protect against serious losses, if it does not bring significant profit: market laws when something falls, the other grows. Indeed, in the current financial rally, fluctuations can lead to a weakening of not only the ruble, but also other currencies. Experts recommend considering any other financial instruments in the form of precious metals, exotic currencies such as yuan only for long-term investment purposes.
The invincibility of the American dollar
The US dollar has already become a parable in the languages in the context of the Russian economy, political rhetoric and private attempts to protect their savings.Statements have repeatedly been made that America’s foreign debt somehow "bury" the dollar, since no economy can withstand such a burden. However, one should not forget that today the dollar is the world's reserve currency. What does it mean?
And the fact that the state reserves of the vast majority of countries are stored in this currency. Moreover, the statement about the imminent collapse of the American economy seems extremely doubtful. States that buy US government bonds (and there are many) are extremely interested in the high economic performance of this country. Therefore, there is every reason to argue that the American economy remains one of the most stable.
Experts recommend storing money in dollars for those who receive a salary and make purchases in this currency. Analysts explain the recent deep collapse of the ruble, among other reasons, by the fact that at the end of the year there was a payment period of $ 30 billion to Russian lenders to foreign creditors. In this regard, the demand for foreign currency on the open market increased sharply.
The next major payment period will fall in spring and autumn - this is about $ 120-130 billion. It is logical to assume that in these periods the dollar will rise again if the Central Bank of Russia does not resort to serious foreign exchange intervention. At the moment, there are no prerequisites for a reversal of the situation towards a significant strengthening of the ruble against the dollar. However, deciding to invest its funds in "green", it makes sense to allocate only part of the funds for this tool.
Euro inconstancy
From the point of view of investing, analysts call for the euro to be extremely cautious. And that is understandable. The position of the currency largely depends on the economic indicators of the member countries of the eurozone. It's no secret that such powerful powers as Germany, France or Great Britain rule the ball here.
However, the worsening situation of Greece, Italy, Spain and the regularly occurring probability on the agenda of Greece's secession from the European Union do not add optimism regarding the volatility of this currency. In addition, recently the dollar has been actively strengthening against the euro. And although the ruble again fell deeply, experts do not advise to succumb to this fever and convert their funds into European currency.
Solving the dilemma: “In what currency should money be stored?”, Of course, one should not ignore the euro. But in his basket, it is desirable to reduce his share to 20%.
Alternative currency solutions: yuan
Today, more and more attention of investors, including private ones, is attracted by the national currency of china - yuan. The economy of China is one of the most active and fastest growing in the last fifty years. The growth rate of labor productivity and production level is also confirmed by the fact that China has relatively quickly conquered the world market, while becoming the production base of many American and European concerns. In this regard, the yuan can be a good tool for generating income, although its level still varies at the level of 2-3% per annum. Confidence in this is supported by the continued growth of investment in Chinese production.
Swiss franc traditional stability
When determining for yourself what is the best way to keep money, it is advisable to proceed from setting a clear goal: obtaining “quick” income or saving money for the future. For long-term investment, you can pay attention to the Swiss franc. As you know, Switzerland is not a member of the European Union. In this regard, the currency of this country is quite independent of the economic and political fluctuations of the EU. The volatility of the Swiss franc is minimal, due to the stability of the local economy and a high level of confidence in the country's banking system. No wonder Switzerland is called the world bank.
By the way, Russian credit organizations already provide the opportunity to open deposits in this currency.The proposed interest rates reach 6.5% per annum, which is higher than the rates on other foreign currency deposits.
What you get in that and spend
Any financial decisions in one way or another should lead to a single goal - to generate income. Preserving funds for a period of instability is an important starting point to achieve what you want. Meanwhile, do not forget that we live in a world of a single information and economic space. And since there is no isolation, there can be no absolute certainty that the “swing” that seized the ruble cannot fall on the dollar or euro at the next financial round.
That is why people who are extremely far from understanding the intricacies of financial patterns and the logic of the money cycle, experts, in response to the question “in which currency is it more profitable to store money,” they strongly recommend storing funds in the currency in which they receive the main income and make purchases. Otherwise, the conversion can play both a plus and a minus. Next, let's talk about where it is better to store money.
Bank Wall Reliability
Having decided on what currency to store the money in, it's time to think about the question of where it is better to store it. The main factor here is safety and security of funds. It is worth noting that in Russia banks after the 1990s did not enjoy special trust. And the first thing that investors did at the slightest hint of a crisis was to run to banks to empty their deposits.
The state’s lack of interest in such mood swings of depositors served as the basis for the creation of the Deposit Insurance Agency in 2004, which guaranteed the safety of individuals' investments up to 700 thousand rubles. From the first of January last year, the respective guarantees were also provided by the contributions of individual entrepreneurs. And at the end of last year, the Russian president signed a law increasing the amount of insurance compensation to 1.4 million rubles. for individuals.
Such changes significantly increase credit confidence in banking institutions. And today, any sane person will advise: keep money in a bank. Nevertheless, it will not be amiss to note that when choosing a financial institution, several factors must be taken into account.
Before you carry your hard earned money, it makes sense to look at the lists of leading rating agencies such as Moody’s, Standart & Poor’s. Having stopped at any of the banks, it is necessary to go to its website in the “information disclosure” section and read the latest annual report. So there will be a more or less complete picture of the state of the credit organization. And, of course, the bank must be a member deposit insurance systems.
Safe
In a period of economic instability, even taking into account the guarantees guaranteed by the government and banks for the safekeeping of funds, it is still difficult to trust in their entirety, especially bearing in mind the not very stable fate of banks in modern Russian history. The desire to protect their savings at such moments is supplemented by a clear reluctance to allow other people's hands to them. In this case, as an answer to the question of where it is better to store money, one can advise bank cells. Recent events related to sanctions, namely the blocking of currency correspondent accounts of some Russian banks, have significantly increased the level of demand for this particular instrument.
From the analysis of the market for this service, it follows that financial institutions have not yet increased the cost of rent.
On average, the daily price varies from 20 to 200 rubles., Monthly - from 1 thousand to 4 thousand rubles. and annual - from 6 to 10 thousand rubles.
The longer the rental period, the cheaper the cost of the service per day. Meanwhile, do not forget that the bank is only responsible for the integrity of the cell itself, and not for its contents.
This is due to the fact that, as a rule, the client does not leave a list of contents.However, the undoubted advantage is the fact that even in the event of a bankruptcy or revocation of the license, the owner of the valuables has nothing to worry about: the funds stored in the cell do not get into the bank’s balance, and the client can pick them up several days after the occurrence of the above events.
Worst Savings Option
There are a lot of jokes among the people on the topic of savings under the pillow, which the omnipresent hand of the state cannot reach. The Gobsians, named after the famous character Honore de Balzac, are more likely to strangle themselves than to transfer their money and valuables to storage somewhere where they will be out of their field of vision. Of course, this is the worst option, at least because of inflation alone.
Nevertheless, if another type of storage of funds, except in your own apartment, is unacceptable, it makes sense to think about where to store money at home. The metal safe from stainless steel with a digital code will help to the maximum in this.
And finally
Money is probably one of the most coveted companions of human life, which at the same time causes a huge number of fears. But, as all financiers say, without exception, money must be respected, because it reflects the value of the labor expended on them. Another rule: a penny should work. Therefore, thinking about the safety of funds, it is necessary to look for options of the most active and profitable way, the result of which will be not losses, but incomes.
Today there are many financial instruments for preserving and increasing capital, so why not spend a little time and sort out all this diversity, so that later it will not be excruciatingly painful for missed opportunities?
