i don't have any savings, but some of my friends do, and ppl seeing their savings basically halved within a few days were devastated, and anxiously wondered whether they should rush to convert to usd or euros to mitigate at least some of the losses

i obviously didn't know how things would turn out, but said that they should probably hold on, bc buying at like 110-120 per usd would be awful, but it didn't really seem that crazy at the time, bc there were massive lines to get cash (both roubles and usd) at atms, and ppl speculated roubles per usd would reach 200 or smth crazy like that

there is still the issue that a lot of things basically skyrocketed in price, which is a massive problem, but at least it's not compounded by shitty currency conversion rates 🤷‍♀️

[–] wazowski@lemmy.ml 8 points 2 years ago (1 children)

though it's possible that this is simply efforts by the central bank to delay the inevitable crash in value 🤔

[–] mekhos@lemmy.ml 4 points 2 years ago (2 children)

Is putting savings into something like gold a realistic option for average Russians with savings?

[–] wazowski@lemmy.ml 5 points 2 years ago

forgot to mention, there's a 20% value added tax on buying gold, making this option even less attractive

[–] wazowski@lemmy.ml 5 points 2 years ago (1 children)

not really i'm afraid, mainly because the average russian has literally no savings, and among the ones that do the average amount of savings will buy you like 20-30 grams of gold, which isn't an amount you can buy iiuc, plus there are issues with storage, and liquidity

ppl who have enough savings to buy into gold just keep their money in usd or some other foreign currency 🤷‍♀️

[–] mekhos@lemmy.ml 2 points 2 years ago

this article is worth a read https://lemmy.ml/post/221937