Third of Russians anticipate further ruble slide – poll

(Interfax – MOSCOW, August 19, 2013) Russians have paid attention to the ruble’s depreciation, which began in late June, but cannot explain its causes, sociologists said.

Thirty-nine percent of the respondents polled in 130 towns and cities in 42 regions in July said they had noticed the ruble’s slide. The change was especially obvious to residents of cities with a population of one million or more (45%) and citizens who bought foreign currency in that month (59%).

Thirty-four percent – 40% in Moscow and St. Petersburg and 42% of well-to-do respondents – argued there was practically no change. Only eight percent claimed that the ruble was edging up against the main currencies.

Reasons for the ruble’s weakening are not clear to 54% of the respondents. Meanwhile, 10% blame the economic status of the country, 8% – an incorrect policy of the government, 7% – inflation, 6% – the global crisis, and 5% – crude market implications.

Thirty-eight percent of Russians projected in July that the ruble exchange rate would not change much against the dollar and the euro in the near future. The opinion was primarily expressed by Muscovites and St. Petersburg residents (41%) and uneducated respondents (43%).

Thirty-four percent expect further weakening of the ruble, and 8% expect an upward trend. The ruble’s further weakening is forecasted by people in cities with a population of one million and more (41%), college graduates (37%) and people with low incomes (40%), the sociologists said.