Russians account decline in ruble exchange rate to international developments – poll

(Interfax – October 12, 2014) Over half of Russians (61 percent) admit that fluctuations in the exchange rate of the ruble have a certain impact on their lives while 13 percent don’t notice any impact, a Public Opinion fund poll indicates.

In the opinion of 62 percent of respondents a stronger ruble is better for the Russian economy and only 7 percent think that a weaker ruble is more beneficial.

Western sanctions are the main reason for the noticeable drop of the ruble against the U.S. dollar and euro say 23 percent of participants in the poll conducted on October 5 among 1,500 respondents in 43 constituent territories of Russia.

Every tenth (10 percent) attribute the decline to the developments in Ukraine, 6 percent – to the deterioration of relations with the West and only 8 percent – to problems in the Russian economy.

Also 57 percent of Russians believe that if the ruble continues falling, this will have a smaller or greater effect on their daily lives leading primarily to the growth of prices, tariffs and inflation (39 percent). Meanwhile, 21 percent hold the opposite opinion and 22 percent are undecided.

Besides, 64 percent think the decline of the ruble will have a negative effect on the Russian economy. However, 6 percent of respondents believe it will have a positive effect, 5 percent that it will have no effect and 25 percent are undecided.

During the poll 72 percent of Russians said they have no savings. If they had, 41 percent said they would keep them in rubles, 9 percent – in U.S. dollars and 8 percent – in euros. In addition, 9 percent would prefer non-monetary forms of savings and 11 percent were undecided.

Meanwhile, 24 percent of respondents have savings in rubles, 2 percent – in U.S. dollars and 1 percent in euros and 1 percent have non-monetary forms of savings.