Save money in the currency you get income and plan your purchases

Maryna Savchenko, Director for Savings and Cash Settlement Transactions of JSCIB “UkrSibbank”

When choosing deposit currency one should take into account a number of issues. These imply Dollar and Euro exchange rates fluctuations at international markets, policy of the National Bank of Ukraine and certainly banks’ deposit rates. All these factors are rather important and should be jointly evaluated. However, this is a rather difficult task for a depositor. That’s why we recommend the following principle for choosing deposit currency: it is better to save money in the currency you get income and plan future purchases. You should also account for deposit rates offered by the banks. Thus, so far national currency is the most reliable currency. We recommend you to keep 70-80% of your savings in UAH, the rest in USD, as the experts expect the strengthening of its exchange rate in respect to Euro.

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