There is a ruble in your homeland: what currency to invest in before the new year

Before the New Year is already at hand, and everyone has different chores in connection with this. While one part of Russians is puzzling over what food to buy on the New Year’s table – so that it’s inexpensive, the other is thinking about what currency to stock up on. So that, as they say, it would not be excruciatingly painful for a year spent aimlessly.

There is no shortage of forecasts from economists. If you take products, then by the end of December they are all at risk – the traditional New Year’s price hike begins in Russia. And just stay here. Someone for the New Year as a gift pineapple from distant overseas lands.

And someone is happy with a thick bundle of banknotes – that’s just what country? This is already more difficult. A couple of years ago, such a question did not arise for us at all: of course, the dollar or the euro, they never failed. And they allowed us not only to save our ruble savings, but even to significantly increase them. The course of the “American” and “European” has always grown over the distance, and our “wooden” has weakened in one way or another.

But now the Russians are at a crossroads. Because of the sanctions, dollars and euros have suddenly turned into a toxic currency; at any hour, they can completely ban it, withdraw it from circulation. And then what: to paste over the walls with green pieces of paper? Yes, and inflation in Europe and the United States is high, respectively 10.7% and 7.7%. The purchasing power of these once strong banknotes is declining before our eyes.

In this regard, many “advanced” financial analysts advise here and now to pay attention to the Chinese yuan. No matter how, China is the second economy in the world, with the yuan, they say, you will be like behind the Great Wall of China. We are directly advised, before it’s too late, to get rid of “toxic” dollars and euros and invest in a friendly Chinese currency.

There seem to be good reasons for that. In Russia, more precisely on the Moscow stock exchange, it is gaining popularity, demand for it is sharply increasing. Thus, in November, the volume of spot transactions in the yuan rose to 57 billion rubles, while in February it was only 1 billion. The question is, what more? All for the yuan!

However, do not rush headlong into the financial whirlpool.

This year, the yuan exchange rate against our ruble has been declining for 6 months out of 11. In general, its exchange rate is not regulated by the market, but by the state – by the Chinese authorities. It is determined not at open exchange auctions, but by the government. How it wants to make it, based on its political or economic interests, that’s how it will be. It is quite difficult to predict its course for some time and estimate your profits from investments, because the East, as you know, is a delicate matter.

Our fellow citizens are also recommended to invest in the Turkish lira, which is also “friendly”, and will always come in handy if you like to spend your holidays in this country. However, there are serious “buts” here. It should not be forgotten that the lira has been making sausages all this year, like our ruble in the 90s of the last century. Inflation in Turkey is about 80%, and the rise in prices in Istanbul is almost 100%. The option to invest in this currency, as we see, is also so-so.

Another leader in “tips” is the dirham of the United Arab Emirates. Here, analysts have the same logic: the currency is friendly and the UAE is also a popular tourist destination for Russians. However, where you will find it in our open spaces – this very dirham. And if some bank trades them, then the margin is like that. What about the benefit for the buyer is not exactly necessary to speak.

In general, before this new year, you should ask yourself: is there any point in going to the bank, ordering yourself some amount in foreign currency? Wouldn’t it be easier to trust our domestic ruble, which, in a difficult time of financial trials, “thermonuclear” sanctions imposed in recent months, showed miracles of stamina. Including the strong currencies of this world – the same dollar or euro?

How many times has the government tried to bring the ruble “to the ground”, set in motion powerful administrative levers to bring the ratio of the “sweet couple” ruble-dollar to a “comfortable” (according to the ministers) level of 70 rubles for our economy. And nothing worked. For several months now, the dollar has been quoted at around 60 rubles and, most likely, fixed at this level for a long time.

Why not a powerful “airbag”, if you manage the rubles wisely, not keep under the mattress, but on a deposit in a bank?

In a word, a person close to you will not be upset if Santa Claus puts a plump envelope with Russian currency under the Christmas tree.

Although, of course, these New Year’s worries – what currency to invest in for your own benefit – far from torment all Russians. But only those of us who have a surplus of money acquired by overwork. Such. Probably 10-20 percent will be typed. And the main part of the population, as you know, lives from paycheck to paycheck, which is not always enough. They would save on purchases for the festive New Year’s table …