Home Business Analyst Vasilyev reported on the continued decline in the role of the...

Analyst Vasilyev reported on the continued decline in the role of the dollar and the euro in the coming months

0

MOSCOW, July 31 — The importance of the dollar and other currencies of unfriendly countries in the first half of the year sank significantly, and this is not the limit – its role will continue to decline until the end of the year after the freezing of Russian gold reserves and the introduction of draconian sanctions, he told the agency “Prime Mikhail Vasiliev, chief analyst at Sovcombank.

“The Bank of Russia and commercial banks are pursuing a policy of de-dollarization, banks and brokers are introducing increased commissions for foreign currency accounts, and the Ministry of Finance and the Central Bank are going to replenish the country’s reserves with friendly currencies (presumably primarily yuan),” he explained.

Thus, the decline in the role of the dollar and the euro will continue in the coming months, while the role of the currencies of friendly countries and the ruble will continue to grow. At the same time, the exchange rate of the ruble against the dollar will be stable, by the end of the year it will fall within the framework of 65-70 rubles per dollar.

It will be more comfortable for filling the budget, Vasiliev explained.

Leave a Reply