Financial analyst Drozdov said whether Russians should stock up on dirhams

It’s better to wait until March when the picture becomes clear

Russians buy not only food and essential goods, but also foreign currency to protect their savings. Question: which one should I buy this year? The dollar and euro are considered toxic in the country, the hour is uneven, their circulation will be completely banned. What remains for our fellow citizens? The choice is small.

According to some experts, United Arab Emirates dirhams and Chinese yuan are coming to the fore. True, analysts do not advise running to banks right now. In the first quarter of the year, due to a seasonal reduction in demand for foreign currency, the ruble may strengthen to 87 per dollar and 95 per euro.

And already in the second quarter, the domestic currency will begin to moderately become cheaper and may drop to 95 per dollar and 104 per euro. That’s when it’s time to make the final decision.

So what should Russians do? How to preserve what you have acquired through “backbreaking labor”? Formally, annual inflation in the country is not very high, compared to 2022 – 7.5%. Then, let us remember, it was 12%. But in terms of the food basket it is significantly higher! And we know this well from our daily trips to the store.

And the exchange rate of the national currency, contrary to all optimistic expectations, does not inspire much hope. At the last December trading on the Moscow Exchange, the dollar exceeded 90 rubles, and the euro approached the 100-ruble mark.

Which financial safety net should we choose?

“In my opinion, the United Arab Emirates dirham is an exotic story, and can only concern those who do business in this Arab country,” says financial analyst Sergei Drozdov. – To save savings, I would not recommend purchasing it. To be honest, I don’t even know if an individual can buy dirhams in a bank. If it can, it will probably be at a greatly inflated rate.

The same can be said about the Chinese yuan. For businessmen, first of all. This is not yet a world reserve currency; due to various geopolitical risks, it may “sag” at some point. In a word, you and I should not rush into the “exotic”.

– Many Russians prefer to vacation in Turkey. Does it make sense for them to buy the lira?

– Inflation there is very high, 42%. The lira has devalued severely over the past five years. The Turkish currency is a clear example of why you should not invest in the currencies of the so-called emerging markets.

For now, the dollar remains the main one. And in large cities it can be bought in cash with minimal losses in relation to the Central Bank exchange rate.

World currencies are much more interesting in this regard.

– The first quarter of the year is traditionally considered calm, the demand for foreign currency is decreasing. Maybe take advantage of this moment?

– For my part, I would advise you to wait until March, before the presidential elections. Then the picture will become completely clear and a decision can be made. Now there are many forecasts that the “American” will drop to 85 and even 80 rubles. But we don’t see this.

– It is believed that in March the exchange rate of the domestic ruble will be at its highest. Are you of the same opinion?

– Is not a fact. Yes, a few months ago such a scenario was considered. To quickly bring down inflation, the authorities need to strengthen the ruble. But, as we see, the monetary authorities did not agree to this. Now we are getting used to the new prices, and even if a dollar costs 85 rubles, the price tags in stores will not change; this requires a time lag of about a quarter.