Saving money in rubles has become more profitable than keeping it in foreign currencies, according to Elvira Nabiullina, the head of the Central Bank. This is due to the difference between rates in rubles and other currencies reaching a historical maximum.

The Russian currency has been strengthening since December 2024. The Central Bank credits this to the attractiveness of Russian assets to citizens and companies due to tight monetary policy.

Despite the key rate being lowered in early June, bank deposits remain attractive to Russians, with interest rates higher than official inflation. Economist Vasily Koltashov highlights that saving in the domestic currency is now more profitable due to the strengthening ruble and high key rate. There are also challenges with foreign currencies, as not all dollars are accepted abroad, and they were acquired with a high commission.

Konstantin Selyanin suggests opening a bank deposit at existing rates as the best way to outpace inflation if you trust Russian banks. Another option is saving in cash currency like dollars or euros. Vasily Koltashov considers ruble deposits in banks the optimal choice today, providing significant income, and views dealing with euros and dollars as risky.

Experts from “BCS World of Investments” recommend long-term government bonds, where a yield above 15% per annum can be fixed for many years. They also suggest selectively approaching stocks, considering geopolitical uncertainty and high interest rates.