Gref Forecasted Dollar Growth in Russia and Advised to Put Money in Banks
As of today, a deposit remains the most profitable, said the head of Sberbank.
Photo: Sber press service
Sberbank CEO Herman Gref expects the dollar exchange rate to be around 84-85 Russian rubles [today - 73 rubles] by the end of 2026, and at the same time believes that bank deposits remain the most profitable investment of money now, writes Moscow Times.
"Our current forecast for the end of the year is approximately 84-85 rubles. But the forecast, of course, does not take into account all circumstances that may arise," Gref said.
He advised private investors to place funds in deposits. According to him, in the current situation, bank deposits remain the most profitable instrument over the long term.
"Paradoxically, as of today, a deposit still remains the most profitable, even though rates are declining," said the head of Sberbank.
According to the Central Bank, the average maximum deposit rate in the top 10 Russian banks in the third decade of May was 12.97% per annum. This figure fell below 13% for the first time since October 2023.
A similar recommendation was given by VTB head Andrey Kostin. He also believes that 1 million rubles [13.6 thousand dollars - NN] with an investment horizon of one year is now better placed in a bank deposit or corporate bonds.
VTB analysts predict a weakening of the Russian ruble to 80 rubles per dollar by the end of the year.
In Belarus, the dollar today costs 2.8169 rubles, and 100 Russian rubles — 3.8259 rubles.
At the beginning of 2026, the dollar cost 2.9047, and 100 Russian rubles were 3.7058 Belarusian rubles.
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