OREANDA-NEWS  In Russia, the strategy has lost its relevance when citizens monitor the maximum deposit rate and regularly move funds between short deposits in an attempt to get the highest return. This was told by the head of the Bank's expert analytics department.

According to her, against the background of the strengthening of the ruble, Russians prefer to acquire a currency. For example, in April, the volume of net purchases of foreign currency by individuals increased to 108 billion rubles. In addition, a decrease in the profitability of deposits played a role in this. The maximum deposit rates have dropped by 7-7.5 percentage points over the past year. The regulator stated that the average maximum rate dropped to 13.04 percent per annum.

In such a situation, citizens deposit money in the bank for a longer period of time, and some of their savings are transferred to foreign currency.

According to the Bank of Russia, in the last decade of May, the average maximum interest rate on ruble deposits in ten Russian banks attracting the largest volume of deposits decreased to 12.97 percent.