Dynamics of bank deposits in 2014–2015 under conditions of fluctuations in the Russian ruble exchange rate: Analysis and interpretation

Authors

  • Мария Николаевна Конягина St. Petersburg State University of Economics, 21, Sadovaya ul., St. Petersburg, 191023, Russian Federation https://orcid.org/0000-0003-1572-6480

DOI:

https://doi.org/10.21638/11701/spbu05.2017.404

Abstract

The Russian monetary system has been repeatedly influenced by many negative factors, the last of which was the 2014 devaluation of the ruble, a key element of the national monetary system. This resulted from a change in the Bank’s policy on exchange rate setting and new monetary decisions. At the same time, estimates by various analysts and representatives of the Ministry of Finance, Central Bank, and other official bodies and agencies are ambiguous and often cause confusion among ordinary citizens. The presentation and interpretation of dynamics of some money market indicators in the mass media, as resulting from Central Bank decisions, necessitates the study and application of such tools that produce unambiguous results. The main goal of this article is to study dynamics of bank deposits and exchange rates for the Russian ruble, Euro, and US dollar, to ascertain if dynamics of bank deposits in Russia reflect changes in public confidence in the national currency for mid-2014 the beginning of 2016. The study uses methods of comparative analysis, including graphic representation, consolidation, and correlation analysis, methods verified by Russian and foreign economists, of large data within a certain timeframe.

Keywords:

bank deposit, currency rate, devaluation, monetary policy, national currency, foreign currency

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Author Biography

Мария Николаевна Конягина, St. Petersburg State University of Economics, 21, Sadovaya ul., St. Petersburg, 191023, Russian Federation

Doctor in Economics, Professor

References

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Вестник Санкт-Петербургского университета. Экономика, 2017, 33 (4)

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Published

2017-12-29

How to Cite

Конягина, М. Н. (2017). Dynamics of bank deposits in 2014–2015 under conditions of fluctuations in the Russian ruble exchange rate: Analysis and interpretation. St Petersburg University Journal of Economic Studies, 33(4), 593–601. https://doi.org/10.21638/11701/spbu05.2017.404

Issue

Vol. 33 No. 4 (2017)

Section

Finance and credit

License

Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.