In a television interview, the President of the Russian Central Bank, Elvira Nabiullina, gave advice in the field of saving money, as well as talking about the most dangerous strategy for saving.
The Russian official said that the most dangerous saving strategy is investing in digital currencies because of their volatile price, when the investor can incur huge losses.
In light of the high rates of inflation, Nabiullina provided advice to save, and said: “In the beginning we must realize that inflation will return to the target level, and realize that the increase is temporary, and on the other hand that this leads to higher interest rates as well as an increase in interest rates on deposits (banking). Deposits are one of the best savings strategies.
She pointed out that many turned to the stock market, where profitability is higher, but the risks are also higher, so investors should study the situation in the stock market well.
Source: RIA Novosti