In the long term, the ruble is a more stable and reliable currency than the dollar, says Mikhail Belyaev, Ph.D. In a conversation with “Lenta.ru”, he explained that the Russian economy is actively developing, although so far this may not be noticed at the household level. But the United States has accumulated a significant baggage of problems that can lead to a weakening of the national currency.
The situation around the ruble only seems unstable, Belyaev is sure. According to him, the Russian national currency is only strengthening its position, becoming more and more profitable for investment. The shocks associated with the coronavirus pandemic are already coming to an end. But even if it turns out that this is not the end, the country managed to develop mechanisms of action in such situations. The Russian economy, according to the financial analyst, is in equilibrium.
The ruble is the new dollar
Belyaev stressed: so far, no strong, sharp progress of the Russian economy should be expected. At the same time, no failures are foreseen, even in spite of the difficult foreign policy situation.
“As for the alleged war, I don’t think that everything will go into a serious phase, although there is tension. Reason will still prevail, because unleashing a war is destructive for everyone. In view of this, I see no reason for Russians to worry about their savings, ”said the economist.
We see that the Central Bank has taken a course towards raising the key rate, which means that the rates on bank deposits will also rise soon. This will seriously increase their attractiveness and make them more profitable.
Mikhail Belyaeveconomist
“Many organizations already offer 7-8 percent on deposits, and this figure will continue to grow. In addition, one must remember that all deposits up to 1.4 million rubles are insured, “Belyaev recalled.
The economist believes that now it is the ruble that is the most reliable and promising currency for investment. Previously, experts recommended keeping savings in the currency of the country, where regular trips are made more often, so as not to lose on conversion. Now this dilemma is no longer there.
“The fact is that exchange rates in their fundamental meaning are determined by the state of the economy of the two countries, their comparative characteristics. The United States, despite all its problems, is in a stable position and will remain in it for the next two to three years. Meanwhile, everything is not bad here either, ”the analyst said.
We overcame the crisis, emerging from it with good growth rates. We have stable foreign trade positions, from which we can conclude that the exchange rate relations between the dollar and the ruble are unlikely to change in the near future.
Mikhail Belyaeveconomist
It is safe to speak about the safety of savings in any currency in a time period of six months. Speaking about longer-term investments, Belyaev invites everyone to focus on their own knowledge of the issue. Nevertheless, if we bear in mind not only the safety of funds, but also the possibility of earning money on investments, the Russian ruble seems more promising to the economist.
Previously, experts called for keeping savings in dollars, pointing out that historically the American currency has always appreciated relative to the Russian ruble. But now, according to Belyaev, such comparisons are no longer appropriate.
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“When we try to appeal to historical experience, we are talking about the period when the Russian economy was in an extremely unfavorable position relative to the United States. We had a transitional period, not the most satisfactory management of the economy, problems with privatization and its consequences, getting on a new track. All this took too long, two decades. But now the Russian economy has stabilized to a certain extent, there is confidence that it will develop, “Belyaev is sure.
In the United States, according to the economist, the situation is reversed: for a long time the country was in a phase of stable growth, with a favorable business climate, even despite the budget deficit. But now a significant number of problems have grown in the US economy, which are no longer so easy to overcome. In addition, today the world is experiencing a global division into two economic camps: the West and the East, the United States and China, which can also hit the stability of the American currency.
“There is a big world restructuring going on. And it’s not only about the balance of power between China and the United States, but also about the transformation of the global model for the development of all economies in the world. So speaking of longer-term prospects, say, 10 years ahead, I would bet on the ruble, not the dollar. It is he who will be more stable and more reliable “, – concluded the interlocutor of” Lenta.ru “.
Earlier, the financier Mikhail Shulgin named the most resistant to devaluation currencies. According to him, these are the Swiss franc, the Japanese yen and the Danish krone.
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