Having on hand a large amount that you want to put on a bank account, you first need to decide in what currency it is more expedient to store this money. The crises that have occurred in the global economy have proven that all currencies that were previously considered reliable are not a guarantee of saving money. The decline in the value of the euro, the strengthening of the ruble, and the unstable value of the dollar make the choice quite difficult.
Deposits in Russian rubles
Now, as before, the ruble is not the most reliable currency in which to keep funds. Even taking into account the higher interest rates offered to banks on such deposits, one should not forget that the ruble is more prone to inflation, the size of which depends on the situation in the economy of the state. At this stage, the Russian economy does not have the prerequisites for active development and early prosperity, as there is more and more talk about stagnation and stagflation.
Over the past year, the rates on ruble deposits have been systematically reduced - at the beginning of the year in the largest banks of the country the rate was at the level of 10%, and by the end of the year it dropped to 8%. And this trend continues.
Deposits in dollars and euros
The situation with the US dollars, as one of the world currencies, is highly dependent on the state of the world economy. More recently, analysts predicted the dollar will lose its role as an international currency, and this was reflected in the attitude of investors towards it. However, the world's largest investors today prefer to keep their funds in the American currency. After the completion of the quantitative easing measures by the Federal Reserve System, serious prerequisites arose for the dollar to strengthen against other currencies. The main confirmation of this is that from 2013 to the present, the dollar rate has been gradually increasing.
The state of the European economy remains extremely unstable, which leads to a rather precarious position of the euro. But at the same time, positive prospects are not excluded. Last year, the euro against the dollar and the ruble increased markedly, and deposits in this currency, even taking into account the difference in rates, turned out to be the most profitable. Experts have different opinions on whether it is advisable to keep funds in euros at the moment. Some believe that the European currency has reached its maximum and cannot be higher. Others are confident that the recovery of the European economy will keep the currency fairly high.
The most profitable deposits
Most depositors believe that the most reasonable option for keeping funds in the bank is to open a multicurrency deposit, when funds are distributed among three currencies. Thus, you can remain confident in the preservation of funds in any situation of the economy.
Experts are increasingly drawing the attention of depositors to Singapore dollars, Japanese yens and Chinese yuan. But unfortunately, such deposits can be offered by a rather small number of Russian banks. In addition, it is recommended to open deposits in such currencies only for experienced investors who are well aware of all possible nuances.
