Experts advise Russians to buy electronics and dollars
The current strengthening of the ruble will not last long and Russians should prepare for a fall in the exchange rate and save in dollars.
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Russian experts issued this warning.
“Now we are seeing a decrease in prices for imported electronics. Everything you want to buy, buy it now: computers, refrigerators. Pay off your loans. Most of us have little savings. It’s more rational to spend it, throw away the money and not pray for it. Savings must be made in foreign currencies. Losses in dollars are also likely, but in rubles they will be colossal,” says Vasily Koltashov, head of the Center for Economic Research at the Institute of Globalization and Social Movements.
Exchange expert, member of the expert council of “Business Russia” Vladislav Zhukovsky, on the contrary, calls not to spend money, but to save it in foreign currency.
“The rate of consumption will fall, the rate of accumulation will increase. You need to save money for a rainy day, for children’s education, for treatment. The coffin stash of the 90s in green currency is being returned,” Zhukovsky said.
Sergei Khestanov, adviser on macroeconomics to the general director of the Otkritie-Broker brokerage house, agrees with him. He believes that there is no need to be afraid of saving in dollars.
“We have another 5-7 years of a strong dollar waiting for us. Therefore, the current strengthening of the ruble is a reason to buy more cheaper dollars today. There is no reason to expect that oil will return to its previous positions,” Khestanov said.
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