Many people keep their savings in foreign currency in order to hedge against the devaluation of the ruble. But it is not enough just to buy dollars or euros and put them in a safe. Currency, like rubles, should work, bring additional income to its owner.
Instructions
Step 1
Select the currency in which you would like to keep your savings. This currency can be traditional dollars or euros, or more exotic Swiss francs or Japanese yens. But taking into account the experience of world crises, no currency can give a 100% guarantee of saving funds.
Step 2
To achieve the best result, invest part of the money in euros, and part in dollars. If the euro falls, the dollar will rise and vice versa. It will be very difficult to win on constant changes in exchange rates, and it will be easy to get insured. This is exactly what the Russian government is doing - part of the stabilization fund is kept in dollars, part in euros.
Step 3
Many experts advise keeping money in British pounds, Swiss francs, Japanese yens, and even Chinese yuan. But, please note that rare Russian banks will offer to make a deposit in an exotic currency for the Russian Federation. Most likely, the interest on such deposits will be low. Therefore, experienced depositors who are well versed in the rates of these currencies, in the advantages and disadvantages of such investments, keep funds in such currencies.
Step 4
Foreign exchange savings are most reliably kept by a bank. Interest on foreign currency deposits is lower than on ruble deposits. But bank interest on ruble deposits often does not compensate for the inflation rate in the country, and from many points of view, foreign currency deposits seem more attractive. Moreover, many Russian banks not only offer their clients simple foreign currency deposits, but also multicurrency deposits. Their peculiarity is that on one account you can store funds in 2-3 different currencies, convert them and receive interest in all currencies.
Step 5
If the deposit is small, up to 700 thousand rubles, you can choose a bank offering high interest rates on foreign currency and multicurrency deposits. It is important for this bank to participate in the state deposit insurance program. If your savings exceed 700 thousand, bet on the most reliable financial institution.
Step 6
For those who often travel or go on business trips abroad, it makes sense to choose a bank with branches all over the world. In the event of an emergency abroad, your contribution can be of great help. After all, money still solves most of the world's problems.
