Since January, 1st will pass the majority of the European countries to uniform currency - euro. In a turn will be started 14 mlrd new banknotes and 1,55 mlrd coins. The part of this money will appear in circulation and in Russia. The first cash euros will deliver the Russian banks already in the beginning of December. And since new year simple Russians will face the European currency also. They should choose that it is better to hold under a pillow - dollar or euro. With contributions, for example, all is already clear: dollar deposits while it is more favourable.
the puzzle for a private trader
With approach of 2002 before bank system of Russia rises a new problem - transition to euro. In general, with this currency banks work about two years. Since January, 1st, 1999 they have started to use euro in clearing settlements. Later a little the Russian emitters let out debt papers in this currency. Are a little familiar with it and investors. Throughout last year a number of the Russian banks offered them a new bank product - contributions to euro. Certainly, and in this case it was a question of non-cash currency.
now, in a month with small, both banks, and the population will get acquainted with this currency in the material form. Here problems, about which while participants of the financial market and the more so the population, reflect a little also will begin.
certainly, Europeans will face the greatest problems in connection with euro introduction. Realisation of this ambitious project will demand from them considerable efforts - from replacement of cash registers, cash dispenses and street phones before opening of new warehouses for storage of a large quantity of new money. Not to mention huge stress which will cause refusal of habitual money in people.
for Russians these problems at first sight seem far enough. Often travelling businessmen and tourists even can derive benefit from a situation: It will be possible to go across Europe only from euro in a pocket. However for ordinary citizens there are many questions concerning introduction of new currency.
first of all, whether becomes euro alternative to dollar? The example with bank contributions shows that hardly. Certainly, demand for deposits in euro is, but more low, than banks expected. That, however, and it is no wonder. So, under dollar year deposits of the rate of banks on 0,5 - 4 % above, than under contributions to euro for similar term. Thus the euro in relation to dollar constantly falls. So deposits in euro for today are extremely unprofitable. Whether
there Will be a situation differently with cash euro? To answer this question not so it is difficult, as can seem. Why, for example, the majority of Russians is stored now by the savings in dollars, instead of in DM, thus that the DM is stabler currency? The answer is simple: banks trade in mark with huge marzhej. As a result of its acquisition becomes unprofitable. Most likely, especially at the beginning, so will be and from euro. Besides this currency has already proved as weaker, than dollar. From the moment of introduction in 1999 of non-cash euro its cost in relation to dollar has decreased from $1,17 to $0,89, that is more than on 13 %.
And the most important reason of unattractiveness of euro consists that this currency is subject to very strong fluctuations. In turn, the dollar on - former remains the basic world reserve currency. So it is not necessary to doubt its solvency and stability.
However, in due course, probably, the part of the population also will shift the savings in euro. But before it should get acquainted with new currency at least. Here again there is other problem. How to secure itself against false euros? In Europe about it some scandals already have inflamed. The European authorities also did not doubt that new currency will try to forge. Are especially attractive to counterfeiters of a banknote of large face value. So, the denomination in 500 euros is equal $440. It is possible not to doubt that, as in Russia will be wishing to forge new currency. As Russians have about it much more vague idea, than Europeans.
to secure itself against counterfeiters it is possible - to get acquainted one certain way with euro in bank. It is necessary even to refrain from purchase of new currency in unfamiliar exchangers. And at all because there you will try to deceive. Simply banks and exchange offices will face the same problem, as the population: they also should to learn distinguish new banknotes. And on it time and the special equipment is required. And if banks already try to get today this equipment the turn will reach exchange offices not soon.
the Headache of banks
Introduction of cash euros judges many problems to the Russian banks. To begin at least that delivery of new currency will cost much to them. And if banks easily predict demand for dollars, from euro a situation while not clear. So it is impossible to exclude that the new European cash will simply be late for uncertain time in bank storehouses.
Besides, banks should be spent for the equipment establishing authenticity of the European banknotes. The matter is that new banknotes become one of the most thin in the world. Also it is not excluded that old counters will glance over some banknotes, including them for one.
complexities are expected and with identification of infra-red labels. The issue centres of euro are scattered across all Europe, and already today it is clear that to observe identity of denominations it will not be possible. Admissible errors at placing of labels make some millimetres.
Having considered all it, some banks from the middle of year have started purchase of new detectors. This equipment as in the West, and in Russia is got. However not all banks aspire will be prepared in time. Some are assured that in the first days cash euros will not be in demand, so, and necessity for the new equipment is not present. So, the chief of department of the organisation nalichno - monetary operations of Alpha bank Oleg Chibisov has declared that its divisions do not plan purchase of the equipment before the second quarter 2002. It is supposed that the existing equipment (counters of banknotes, ultra-violet and infra-red detectors) will provide reliable processing of cash euros at the initial stage. And such care of bank is quite clear: at low volumes of operations with new currency equipment purchase can appear business unprofitable.
introduction in the euro reference promises to banks and a number of companion problems. So, the elementary way of an exchange of abolished national currencies for euro is their transfer on the bank account. And by the end of the year citizens can incur all marks and francs in banks for what those specially did not prepare. Meanwhile among handed over currency there can be a fair share of fakes.
one more problem for the banks, connected with euro introduction, - training of the personnel to work with new currency. Any Russian bank in which correspondents called, could not inform on carrying out of special trainings for the personnel. As declare in banks, training is spent on the basis of the help information. However, here banks will be helped soon by the Central bank of Russia. Now it finishes instruction working out in which recommendations for cashiers on recognition of authenticity of euro will contain.
occurrence of new currency puts for banks one more problem - working out of products in euro. While services offered by banks in euro are limited to deposits and credits. Only some banks have gone further. For example, the development and re-structuring bank one of the first has started sale of traveller`s cheques American Express nominated in euro. Calculation was that leaving on rest abroad clients will get these checks as more convenient. However demand has appeared small. And it is similar, more resolutely in the market of euro banks begin operate only after will understand, what products will be claimed by the population. And services offered by them today is only some kind of careful investigation.