In the event of a sharp rise in the exchange rate of the American currency against the Russian ruble, Russian banks may limit the conversion of dollars.
Russian economist and financial markets expert Olga Gogaladze warned about this.
Her statement is quoted by the publication Bankiros.ru .
What the Economist Warned About
As Gogaladze explained, in the event of a sharp rise in the dollar exchange rate, citizens may begin to withdraw savings from deposits and purchase foreign currency.
According to her, this could lead to an even greater weakening of the ruble and a shortage of foreign currency.
A shortage of cash currency is possible, especially in the short term, if the demand for cash dollars and euros increases sharply, the economist said.
To reduce the outflow of funds, Gogaladze continued, banks can increase the commission for purchasing currency or limit its conversion.
It is important for citizens to remain calm and take into account the risks when converting savings into foreign currency, the expert advised.
