Sell or buy currency: what to do with dollars now
Those who have dollars can sell them, but there is no need to take any drastic action.
This advice was given to Russians by David Grigoriev, senior investment advisor of the Gazprombank Investments service.
The expert's opinion is provided by Bankiros.ru .
Sell or buy dollars
As Grigoriev explained, the current weakening of the Russian currency is connected with external restrictions and problems with cross-border settlements.
It can be expected that this problem will be resolved and the rate will return to more fair values, the expert predicted.
Answering the question of whether to sell or buy dollars, Grigoriev noted that it depends on the individual goals of the currency owner.
According to the expert, if you already have the currency, you can sell it at a favorable rate, but you shouldn’t buy it.
The general recommendation is to remain calm and not take any drastic action, he added.
The possible return of the exchange rate to a fair level, Grigoriev continued, depends on the elimination of difficulties with cross-border settlements.
It is possible that the dollar could cost more than 120 rubles. However, the fundamentally fair rate is closer to 100 rubles, the expert concluded.
For reference
The United States dollar is the monetary unit of the United States and one of the world's major reserve currencies.
