Political instability could trigger an economic downturn with further dollar appreciation. Such a forecast shared Chief Analyst of Sovcombank Mikhail Vasiliev in an interview with the Prime agency.
He drew attention to the fact that many experts are talking about a global recession against the backdrop of record inflation. Rapid rate hikes by central banks, the energy crisis and zero tolerance for the coronavirus in China could also weigh on the situation.
According to Vasiliev, under such conditions, investors will tend to go to the dollar. Against this background, as the analyst emphasized, the exchange rate may weaken to 70 rubles per dollar.
The specialist advised to keep part of the funds in foreign currency, but not any. Since the non-cash dollar and euro remain toxic due to the threat of new sanctions on the Moscow Exchange and the National Clearing Center (NCC0), the analyst called for paying attention to the currencies of friendly countries.
Earlier, the chief analyst of the financial supermarket Banki.ru, Bogdan Zvarich, said that the dollar was strengthening due to the growth in demand for the currency and the deterioration of investor expectations regarding the economic situation, and could grow further.
