Source Pravda.Ru

Central Bank Doesn't Expect Russian People To Convert Their Savings In Euros

The Central Bank of Russia doesn't expect Russian people to convert their savings in Euros, Bank official Alexander Yurov declared at a round table meeting in the Federation Council devoted to the introduction of cash Euros today. According to him, "there are no serous grounds for converting all savings in Euros now." The volume of savings of the Russian people reach around 5bn DM in cash, the Central Bank estimated. However, those who have DMs are most likely to convert them in US dollars, Yurov stressed. In his opinion, Russians understand that the political situation in the USA is more stable than in the 11 countries of the Euro zone. That is why, they trust the dollar more.