The yuan has become more attractive for investors than the dollar

Russians more than quadrupled their purchases last month, from 11.6 billion rubles in February to 41.9 billion rubles in March, according to the Bank of Russia. And in the turnover of exchange trading, the yuan-ruble currency pair reached 39%, while the share of the dollar-ruble pair fell to the lowest in recent years 34%. At the same time, the Chinese currency continues to rise. Does it make sense now to invest in yuan, Stanislav Bovt, a financial analyst at the CMS group of companies, told Moskovskaya Pravda.

Since last summer, the yuan has risen in price by more than 50% against the ruble and is currently trading at around 11.8 rubles. According to the expert, in terms of technical analysis, the medium-term trend remains upward and will remain in place at least through the second quarter of 2023.

– I see the growth potential from the current values ​​in the region of 7 – 8% – up to 12.8 rubles. In general, this year I do not expect strong exchange rate fluctuations and, in my opinion, the corridor will remain in the range of 10.8 – 12.8 rubles per yuan, – said Stanislav Bovt.

Fundamental analysis also does not provide for any surprises, the financial analyst believes.

– The People’s Bank of China kept its interest rate at 2.75% per annum. On April 18, a very significant block of statistical data was released from the Middle Kingdom: industrial production in March increased by 3.9% in annual terms, retail sales of consumer goods in the first quarter increased by 5.8%, GDP growth in the first quarter was 4.5% in in annual terms. As you can see, the data is quite positive, the expert said. – Nevertheless, I want to remind investors of two immutable rules of successful investment activity. risk and capital management and iron discipline in terms of working with protective orders.

Recall that there are two protective orders: stop loss and take profit. To minimize possible losses, you should be guided by the first option of a protective order, when an investor places a stop-loss order in the trading terminal, indicating the minimum threshold, upon reaching which the order is automatically closed. At the same time, the investor at this moment does not even have to be near the computer. As Stanislav Bovt clarified, all brokers and all trading terminals have such opportunities.

Alena Bodrienko.

Photo by Alexander Avilov / Moskva Agency