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Is It Time to Sell Dollars: Expert Gives Valuable Advice
17.11.2024 19:01
Now many people are asking themselves: “Should I sell dollars?”
The answer depends on certain factors.
We are talking about the financial goals that a person has set for himself.
The financial strategy of a citizen/organization is also of great importance.
Pyotr Shcherbachenko, a representative of the Financial University under the Government of the Russian Federation, told Rossiyskaya Gazeta about this.
What to do with dollars
The expert gave the following example: if a person has saved a small amount and intends to travel abroad in the near future, then there is no need to sell American currency.
The fact is that dollars may be needed for payments in another country.
Shcherbachenko added: if there are no foreign trips planned in the near future and if payments are made in Russian rubles, then again, there is no need to sell dollars for now: it makes sense to wait until the US currency becomes even more expensive.
The specialist also reminded about the need to follow economic news. Without receiving the relevant information, it will be difficult to make the right financial decisions.
What will the dollar exchange rate depend on?
As Shcherbachenko noted, in the next few months the value of the American currency will depend on oil prices, as well as on the actions of Donald Trump and the situation in the world as a whole.
The expert gave the following example: if the price of “black gold” falls, the dollar may strengthen, while the Russian ruble, on the contrary, may become cheaper.
Another example: if the elected President of the United States, upon returning to the White House, takes measures to stimulate the economy and begins tax cuts, the value of the US currency may go up.
It is also necessary to take into account such issues as the impact of sanctions and conflicts.
Shcherbachenko did not rule out that the exchange rate of the American currency will be 110 RUB. However, the specialist considers the following scenario to be more likely: 97-104 RUB for 1 USD.
For reference
The United States dollar is the currency of the United States and one of the world's major reserve currencies.
