He explained that technical risks have already emerged for the franc and the Japanese yen – they were removed from trading on the Moscow Exchange due to uncertainty with the calculations. In addition, it is worth remembering the trend of devaluation of the Russian financial system and the liquid currencies of countries friendly to Russia.
“The Chinese yuan has already overtaken the euro in terms of turnover on the Moscow Exchange. Trading volumes exceed 50 billion rubles. per day at 40 billion rubles. euro,” Zeltser explained in an interview with the Prime agency.
According to his forecasts, the ruble will weaken by the end of the year, so it is worth compensating for its decline through currencies such as the yuan and the Hong Kong dollar – they will rise in price, and there are much less geopolitical risks, the expert concluded.
On July 28, the Accounts Chamber (CA) of Russia proposed to exclude from the National Welfare Fund (NWF) funds placed in the currencies of countries that applied anti-Russian sanctions. To this end, the joint venture proposes to amend the structure of the Fund’s resources, excluding from it assets in euros, pounds sterling and Japanese yens.
July 25 Associate Professor of Russian University of Economics. G.V. Plekhanov Denis Domashchenko explained that the suspension of the Moscow Exchange trading in the Japanese yen from August 8, given the meager turnover in the Russian Federation of this currency, will have an insignificant impact on the Russian economy and financial system. He explained the actions of the Moscow Exchange by the risks when making payments in the currency of the sanctioning country.