What will happen to the ruble in August. Go to the record

Financial experts allocated factors that could support and, on the contrary, weaken the Russian currency in August.

Traditionally, August is a difficult month for the Russian currency and in general for the Russian economy. Is it worth waiting for any currency shocks in the last month of summer, Ayf.ru found out financial analysts.

"External influence"

Maria Salikova, a leading analyst of the financial company "Expert Plus":"At the end of August, the dollar rate will be 64-64.5 rubles. European currency can grow as much as possible to 75 rubles.

The factors of influence on the Russian currency throughout the last summer month mainly external. From the Central Bank of Support, do not wait. If you evaluate the picture of external drivers, then the focus on the negative side is the continuation of sanitation pressure, low interest in the currencies of the developing countries, the low season of business activity, waiting for the collapse of the US stock market, which will be an additional negative for developing markets.

From the internal factors, I note a sharp reduction in demand for the ruble in connection with the completion of the World Cup and the Completion of the holiday season.

Support can be expected from the energy market of the energy resources, as due to the insufficiency of the oil produced, as well as a seasonal increase in gasoline demand in the world, the price of barrel can attempt to return to the level of 78 dollars. However, for the Russian currency, the optimistic dynamics of oil prices will not be so much support as a factor restraining the fall. Moreover, OPEC and the Russian Federation is already increasing the volume of oil produced, and the United States threatens to use their reserves. "

"August-2018 - Exception for the ruble"

Anton Bykov, Chief Analyst of Analytics and Financial Technology Center: "Despite the fact that August for the ruble in most cases becomes negative, 2018 has every chance of becoming an exception. It is worth remembering that in previous years Augustus became a bad month for the ruble only in the event of a serious fall in oil prices, as was in 2008 and 2014. In the current year, in August, oil with a high probability should demonstrate stability. Barrel Brent cost is expected in the range of 70-80 dollars.

Also from the equation that determines the course of the Russian currency, you can exclude the risks of imposing sanctions. Already on August 4, the US Senate will leave for the summer holidays, so that new anti-Russian restrictions have been actively discussed now on only in September.

Local internal factors (tax and dividend payments, as well as the purchase of currency of the Ministry of Finance of the Russian Federation) and external factors that determine the total dynamics of the American dollar and the euro are remain. The growth of the Russian ruble will partly contribute to tax payments of companies, as well as the overall weakening of the American dollar in the foreign exchange market due to the conflict of interest between the American president Donald Trump and the Federal Reserve System.

The Ministry of Finance of Russia continues to have a negative impact on the Russian currency in the market in accordance with the budget rule, and the conversion in the currency paid dividends paid by Russian companies.

In such an entangled configuration of local and external factors closer to mid-August, the ruble to the American and European currency will have a tendency to rise in the direction of 59-60 rubles and 71-72 rubles, respectively.

The second half of the month, on the contrary, will probably be under the flag of the American dollar and the euro, which will try to return the lost positions to the levels 62.00-63.00 and 73.50-74.50, respectively. "

"Weak oil, stringing dollar"

Director of the Expert Group Veta Dmitry Jar:"The key negative factors that may affect the dynamics of the ruble movement in August, in addition to the overall level of nervousness of the market participants due to the fact that the last month of summer is traditionally the most stressful for the domestic economy and ruble assets, it is worth named by moderately weak oil and a stringing dollar.

The events of the middle of the second decade of July, when, during the whole of several trading sessions, Barrel fell from 79 to 71.6 dollars, they talk about the absence in the faith market in the fact that prices near $ 80 are fair.

The market continues to closely follow the dynamics of changing stocks in the US and the number of steps. August in this regard will only secure the emerging vector of geopolitical factors into the background, since political life and in the United States, and the world will reduce the revolutions at least until September. For the market, however, this is also a period of clutch and holidays, so you should not expect any serious changes in the market.

The second risk factor, in my opinion, can be called a brewing crisis of dollar liquidity associated with the active tightening of the Fed monetary policy. Raising the rate stimulates the return of capital from emerging markets. Although so far, it is premature to say that the competence crisis of currency liquidity is premature, it is worth noting that the conversations about the "dehydralization" of the economy and the sale of a significant part of debt obligations may indicate its signs. The dollar deficiency is quite logical to lead to an increase in the rates of its strengthening to the ruble, but it will most likely happen, not earlier than September. "

"Trade wars weaken yuan and strengthen the dollar"

Ivan Kopeikin, Expert of the BCS Broker investment company: "The monetary policy of world Central Bank remains the main factor influence on currency courses.

In particular, on August 1, the results of the next meeting of the Fed will be summed up. However, surprises here are extremely unlikely: the rates will remain at the same level.

At the same time, the focus will also be the news around the US trading wars and the whole world. If aggressive statements and actions from China, the United States and Europe will grow, it can create prerequisites for escape from risky assets, further weakening the yuan and strengthening the dollar.

The dollar support in August will also have a further reduction in the Balance of the Fed and the purchase of currency by the Russian Ministry of Finance.

In turn, only high oil prices, support for which, will probably have further confrontation between the United States and Iran worth noting the factors for the ruble factors.

In general, in August, the Russian currency, most likely, will continue to bargain in the sidework between the marks of 61.5 and 65 in a pair of the dollar / ruble, but long-term factors, in my opinion, are still talking more for the growth of the American currency. Therefore, in the area of \u200b\u200b61.5-62, I would look closely to the cautious shopping of the dollar. According to the euro / dollar interesting for shopping, in my opinion, can be a range of 71-71.5. "

"Invest better in the dollar"

Mikhail Krylov, Director of the Analytical Department of the Consulting Company Golden Hills-Capital AM:"If we take into account the overall level of risks in the global economy and the desire of investors to defend them, then the dollar is a clearly more winning investment than the euro. Positive Data on Sustainable GDP GDP will not help dispel unwillingness to risk. Against this background, the euro rate can examine the marks about 1.10, and the ruble risks to go to levels of about 70 per dollar, especially considering targeted actions to reduce the cost of loans for legal entities in our country.

For this reason, I see a serious danger to risk assets, such as ruble and euros. "

"No oil anywhere"

Artem Deev, Leading Analyst Investment Company AMARKETS: "In the carbohydrate hydrocarbon market, traders are determined by the next Middle Eastern force majeure with the participation of Saudi Arabia, temporarily suspended the supply of oil in a strait, connecting the Red Sea with the Aden Bay.

Solution of Saudites limit the supply forced traders to recall the risk of lack of raw materials in the global market. Recall that about 5 million barrels of oil and petroleum products on the day, under the threat of deliveries, was immediately, which is 10% of all marine supplies. As the delivery renews through the Red Sea, the offer will again begin to grow, updating the former fears of overproduction of raw materials. About the plans to increase oil production last week also informed Minister of Energy of the Russian Federation Alexander Novak.

Given the said, in the coming month of oil, most likely, will continue to test pressure, devaluing and ruble. As for the dollar, its growth is almost inevitable. The Fed has already confirmed the plans by the end of this year even twice increase interest rates. A similar course is a consequence of obvious progress in the growth of inflation, reducing the unemployment and expansion of national GDP. "

Commenting on the decision to leave a key rate at a constant level of 7.25%, adopted by the Board of Directors of the Central Bank of the Russian Federation following the meeting on Friday, July 27, Director of Analytics Kibe Bank "Opening" Dmitry Harlampiev notes that it coincided with expectations of experts and forecasts of all respondents Bloomberg market participants (100% of respondents). In the official commentary, the regulator pointed to the preservation of low actual inflation, the formation of a trend for its return to the target level of 4% and temporary exceeding target, but already in 2019.

Dmitry Harlampiev points out explicit signs that the central bank, taking into account the changed conditions, transfers expectations on the transition to a neutral monetary policy for 2019 (previously such a transition was predicted for 2018), without specifying in this case to reduce the potential or target range of neutral rates.

"According to the latest available data, the neutral range of the real interest rate is 2-3%, while not being a constant, - writes in its comments by the Opening Cyb Bank analyst analyst. - The deflationary factor at the present stage is almost zero change in prices for food products, while in the case of a non-food market there is a moderate acceleration of prices, primarily in the segment of petroleum products. Own prediction regarding the dynamics of CPI and GDP for the current year of the Central Bank of the Russian Federation preserves in a constant form - 3.5-4.0% and 1.5-2.0%, respectively. "

Meanwhile, the market is given obvious intelligence risks associated primarily with uncertainty about the scale of secondary effects from accepted tax solutions (raising VAT rates by 2% from the beginning of 2019). It tries inflationary expectations - in June, this indicator rose by +1.2 percentage points. - up to + 9.8%. There are also risks in the context of external factors - the growth of profitable markets, topical geopolitical risks, the total growth of volatility in the global financial market.

"Taking into account the developing conditions," expert summarizes, "we tend to the fact that the regulator will refrain from reducing the key bet in 2018 and the first" step "is possible not earlier than the end of the 1st quarter of 2019."

Positive Week for the Russian ruble, which may reach 8% by the end of the year

The lead analyst "Opening a broker" Andrei Kochetkov believes that the Russian market has spent a positive week, but again it may be under pressure from political news, as the Russian issue in the pre-election rhetoric continues to use in the US Congress.

As for the external attributive conditions, the kochetkov draws attention to the growth of the American economy, which accelerated to 4.1% of growth in the second quarter, which fully justifies the rather rigid position of the Fed. This week, the American regulator will hold a regular meeting, which is not waiting for changes in monetary policy, but will very carefully study the final statement.

Japan will begin a week with the publication of retail statistics. The Eurozone will receive a report on business and consumer confidence, as well as indices of business climate and economic expectations. In the US, data will come out on unfinished real estate transactions. In Russia, "LUKOIL" will close the registry for participation in the erect. TGK-1 will report on the RAS for the II quarter and half of the year, as well as RusHydro.

Information that is able to interest the cities and regions of Russia, the replenishment of the budgets of which depend on the revenues of metallurgical companies: the prices for reinforcement steel in China have reached a maximum of five and a half years on concerns of reducing production. The PRC authorities continue to strengthen the struggle with air pollution, which involves a significant reduction in dirty industries in a number of key cities, including Tangshan and Changjow.

Kochetkov draws attention that the Russian market was able to strengthen its position last week. However, the activity of buyers was held back by the regular statements from Washington, where they continue to play the Russian card in the pre-election company of the current year. The head of the International Committee of the Senate even allowed the adoption of new restrictions before intermediate elections to Congress in early November. "If it were not for the risks of new troubles from the United States, the Mosbier's index could already be higher than the mark of 2400 p. - Expert believes - and the ruble leave the range of 61.5-64.5 to the side of 60 rubles per dollar. At the beginning of August, the ruble may be under low pressure due to seasonal factors. In particular, we are talking about a high tourist season, as well as about the conversion of dividends by non-residents. On the other hand, the consolidation regime is most likely, both in the stock market and the currency session. "

Timur Nigmatullin colleague indicates that on Monday, the US dollar on the Moscow Stock Exchange loses about 0.1% and is traded near the mark of 62.8 rubles, while in the center of the USD formed after the April sanctions of the US "Bokovik" with the oscillation range within 60-65 rubles .

"Meanwhile, in our opinion, the current price levels are significantly overestimated by the fundamentally reasonable meanings due to aspects of the budget policy of the Ministry of Finance of the Russian Federation, the ratio of interest rates of central banks of the two countries and the total macroeconomic conjuncture," the expert is sure.

Analysts "Opening a Broker" predict the gradual restoration of the balance in the foreign exchange market previously observed during the 2017 and 1st quarter of 2018. The direct effect of the imposed sanctions is objectively insignificant across the Russian economy, the risk of new harsh sanctions, incl. against the Russian public debt, negligible small. As the rhetoric of the US political authorities is weakened (in fact, we are already observing this process) non-residents will return to the ruble public debt, which will create prerequisites for the transition of the dollar / ruble to the usual range of fluctuations 55.5-61. Our basic forecast for the end of 2018 is 57.7 rubles per dollar.

Bank "Opening" comes with customers to contact

The Bank "Opening" became the first bank that offered its customers a new information informing service - the Messenger of the Social Network VKontakte (VC), the Press Service of the Bank reports. Now customers will be able to not only receive information about all operations on their card account in the channel usual for them, but also ask their questions to the Bank's experts and get an answer online.

In addition to the VK messenger, in the "Opening" will also continue to be informed via SMS, Viber and Push notifications in a mobile bank. The ability to connect to VC will be all customers who have received the appropriate notification in the messenger. At the same time, if there is no connection to the Internet, operation notifications will continue to come across SMS.

"I would like to emphasize that the confidentiality of information transmitted through the messenger will be saved. VKontakte is one of the most popular social networks among our customers, and we want to provide users with the opportunity to communicate with their bank where it is more convenient, "said Alexey Pevgov, director in the direction of the Discovery Bank projects.

Prepared Sergey Avdeev
Plane

Why did the domestic currency collapsed and what consequences are waiting for us - in the comments of the "real-time experts"

The Russian stock market reacted to the US Department of State on the new sanctions against our country with a sharp collapse of the ruble. On the eve, the dollar went up by 2 rubles, today the bidding on the Moscow Stock Exchange also opened a significant reduction in the course of the domestic currency. However, after noon, it was possible to adjust it. More about the situation - in the comments and forecasts of real-time experts.

The ruble fell to a record mark

The ruble rate has declined sharply against the background of reports of sanctions against Russia. Recall, on the eve of the US State Department, the US State Department announced new tough restrictions on our country, linking them with the case of the poisoning of the former colonel of GRU Sergei Skriplia and his daughter of Yulia in British Salisbury. The first package of sanctions is expected on August 22.

Almost immediately the news caused the fall of the Russian currency: for yesterday, the dollar rate rose by 2 rubles, to 65.55 rubles / $, the euro went up by almost 2.5 rubles, to 75.5 rubles / €. This morning, trading on the Moscow stock exchange was opened by a new sharp decline in the ruble. The dollar passed the mark of 66 rubles. / $ For the first time since November 2016. The euro at the beginning of the trading has grown above 77 rubles / € for the first time since April 2018, though, then it fell. As of 10.40 am, the dollar cost 66,13 rubles. / $, Euro - 76.6 rubles.

Later, the Central Bank raised the official ruble exchange rate by 2.7 rubles. - Up to 66.28 rubles / $, and the euro exchange rate is 3 rubles - 76.82 rubles / €. Closer to noon, foreign currencies began to decline. As of 12.25 dollar cost 65.83 rubles. / $, Euro - 76,29 rubles. / €.

"Guys, the moment to exit rubles the absolute majority of you missed"

Doctor of Economic Sciences, Professor Nikita Krychevsky complained that "Irison is familiar to expecting ruble assets for such cases. But where? In pre-dollar dollars? In foggy-perspective euro? In incidental shares, for example, in, which dropped 8% today? Where to? No, guys, the moment to exit rubles the absolute majority of you missed last week. " Commenting on the "real-time" situation in the stock market, the expert continued his idea that to take any actions at the moment to anything:

I do not see any collapse, I see a panic. Of course, it's late to save ruble assets. The recommendation is one - to sit and do not twitch, otherwise you will be a herd, run to exchangers and will be the same, the stock and foreign exchange markets are holding. Gentlemen, you decide what you want: make money on fall or save this money. You live in rubles, get in rubles, pay in rubles, prices do not grow, while at least apartments and cars in rubles. If you want to save assets, then go quietly discover the contribution and put rubles there. If you want to earn, you will be trampled, because the flock during the panic period is just that mechanism that allows you to earn one who is smart. It is better to sit quietly, see how events will develop. On August 22, not the most terrible sanctions will be introduced, "Nikita Krichevsky is convinced.

"With the overall weakness of the Russian economy and the absence of reasonable reforms, the ruble should fall"

Economist, Professor of the European University, Member of the Civil Initiatives Committee Dmitry Travin assesses the situation in a similar key:

- The ruble has already fallen so many times in my memory in Russia, this month we celebrate the 20th anniversary of the largest fall of the ruble. In principle, nothing new is happening now. Of course, with the overall weakness of the Russian economy and the absence of reasonable reforms from time to time, the ruble should fall compared with the currencies of truly strong countries. So nothing surprising. By direct impetus, I think really are US sanctions, here I agree with those estimates that are mostly dominated.

In part of the recommendations, the interlocutor of the publication also believes that the time of active actions was missed: "I am answering this question with a standard phrase for many years, as I ask him when the ruble already falls: before it was necessary to think! Because at the time of the fall, it is impossible to say anything. There were many cases when this fall was intensified, but no less cases when after panic everything was played off. So how now the situation goes: whether the ruble will collapse even more or play back - do not know. If the Americans no longer accept serious sanctions, and oil will grow up during this time, the ruble can and retire. "

Dr. Political Sciences, Professor Ravgigs and Geopolitics expert Vladimir Stol, believes that the approach to considering the problem of sanctions and so-called response measures counterproductive and cannot lead to anything good:

- From the point of view of this godding of two economies, we, of course, are very hard with the West. It is necessary to understand that sanctions and antisanks are damaged to both parties, no one benefits from it, and therefore it is not possible to put on sanctions against us - this will not bring us any benefit, and there is no point in this absolutely. The West is trying to use sanctions against us, they are absolutely anti-consent from the point of view of the norms of international law, since such sanctions can be administered only by decision of the UN Security Council, which is not, not, and most importantly, can not be, since Russia has the right of a veto blocking any solution UN Security Council. Naturally, we are not masochists and will not oppose themselves to introduce some sanctions, so this issue is a dead end from the point of view of existing international law. Therefore, what happens against us is an ordinary trading war, "says Vladimir Stol.

"The currency will only go to go"

Popular telegram channels specializing in financial subjects expressed a "real time" their assessment of the situation in the stock market:

We think that the situation goes into the category "Savior Good, while there is something to save." Alas, the sanctions are tougher, and world markets for our financial institutions are also closed. Unfortunately, friends-Azitates (China, etc.) are in no hurry to open accessible financing and loans for our banking system. Therefore, the currency will only be expected (for no one has canceled the dollar as global currency), and in this connection ruble assets will fall in price. There is still something to save, but you have to think before you take a currency on takeoff. As it seems to us, there will be a small rebound at the cost of the dollar in the fall, but not for the previous levels (61-62 rubles per BCS, no more). However, the fall of the ruble will continue by the end of the year (payment of currency loans and debt obligations). Recommendations are some - not to succumb to panic and soberly weigh where and how to spend rubles. We have already seen the hysteria of 2014, when we massively bought the dollar "by top of the top" and used real estate in the market, but in the end, all "invested" lost up to 20% of their investments ("Lord" fell in price, the dollar also decreased). Those who are sitting in currency assets, we offer to enjoy the process and expect the course to raise, that is, throw off the bucks yet early, - the authors of the Channel "Nothing" believes.

The crisis on the ruble market is provoked by the Ministry of Finance and the Central Bank, without their participation, the dollar would be at the level of 50-60 rubles. Unfortunately, the Central Bank does everything so that ruble attachments cease to be attractive to the public, and no one believed in national currency. Keeping money in Russian banks is becoming less reliable due to sanctions and unpredictable government responses on sanctions, lack of long-term economic policies, violations of the principles of a market economy, non-compliance with plans for the real growth of the economy and salaries, weak regulation, the population of the banking system. Without panic population, the course calms down, but usually she is late. The Central Bank can drive itself into the angle and start raising the rates. The exit for the population is to stop using the ruble as a storage tool in the long run, to look for dollar sources of income, search for work outside of Russia, where real incomes of the population are falling. For wealthy Russians - to look for ways to keep money outside of Russia, to open accounts for foreign brokers. Russians began an increase in interest in deposits in other countries of the former USSR. For example, in Georgia. The goal on the dollar is around 71 rubles, "the channel" Banksta "said.

Most experts agreed that one should wait for the first sanctions (August 22), they are not the most dangerous for Russian assets in rubles.

Vasil Shirshova

On Tuesday, the ruble has increased in price by strengthening the currency of developing countries against the background of the decision of the Central Bank of Turkey to take measures to support the lyure and a significant increase in the cost of oil, which grows by reducing the production of Saudi Arabia and hints to an increase in world demand for raw materials.

As expected, investors did not respond to yesterday's publication by the US government official draft law on fresh anti-Russian sanctions, since no new information on restrictions in the text was contained, and the entire potential attitude of the players were included in the course of the National Course last week.

In the near future, quotes will receive support from domestic exporters, which will have to convert and pay in the treasury about 1.8 trillion rubles as part of the tax period starting today.

The current increase in the value of raw materials can easily be changed by a fall, because high oil prices have become possible due to the desire of the United States to stop export from Iran. However, now we can observe the desire of Iranians at the expense of discounts to conclude long-term contracts with Asian countries, including the PRC, which will make it difficult to make the country's economic blockade. In addition, even if Washington's plans are brought into life, the market shortage is unlikely to: Moscow and ER Riyadh will easily fill the emptiness.

The tightening of American monetary policy can adversely affect the ruble rate: Turbulence in emerging markets has practically did not affect the US economy. As a result, the Fed may increase the interest rate twice until the end of the year, which will lead to the growth of the dollar and the outflow of capital from countries with increased risk.

The cost of the Russian currency to December depends on two factors - the value of raw materials and the inflow / outflow of the capital of non-residents. If the forecasts to slow down the growth of the global economy and fuel consumption will come true, then oil can chef to $ 68 per barrel, which, together with the flight of foreigners from domestic papers under the influence of fresh sanctions, should send the course of the National Course to 72 rubles per dollar.

However, if the situation will be the most optimistic way, then the ruble is although they will not be expected to expect a special recovery. Especially considering the lack of interest from the domestic regulator to strengthen it. Most likely, the level below is 62.50 rubles for the dollar we will not see for the new year.

Today at the auction on the Moscow Exchange, the dollar rate exceeded 66 rubles for the first time since November 2016. The currency at the opening of the auction was estimated at 66.34 rubles. In addition to the American currency at the bidding of the Moscow stock exchange, the euro, which is estimated at 77 rubles. The foreign exchange rate is growing against the background of the US intention to introduce new sanctions. According to the media, among the proposed measures - to recognize our country with one of the sponsors of terrorism, as well as prohibit Russian state banks calculations in US dollars. While the document has not been published anywhere. Against the background of these news and began to grow a dollar and euros. In addition, the shares of Russian companies strongly asked.

Experts are confident that panic investors will quickly stop and the ruble will begin to strengthen.

- The alleged sanctions recent years affect the ruble exchange rate, but the influence is limited. Players of the foreign exchange market are trying to use sanctions in their own interests. There are much more powerful factors than the sanctions of Western countries: oil prices, prices for resources, for example, says Associate Professor of the Department of Political Saving MSU named after Lomonosov Maxim Chirkov. - The ruble will tend to strengthen.

Recall that on June 19, the dollar has already exceeded 64 rubles, but the growth was short and soon returned to the May values \u200b\u200bof 62-63 rubles per dollar.

There is no fundamental reasons for the ruble exchange rate against major reserve currencies, the expert of the International Financial Center Vladimir Rozhankovsky is also confident.

- The reasons for the collapse of the ruble, as it was in 2014, no. Then oil fell in price by 2 times - in the area 50 dollars per barrel. Now against the background of anti-heian sanctions, on the contrary, there is a potential for its growth above $ 80 per barrel - to the maximum from November 2014. That is, the risks of reducing the flow of currency into our country and, accordingly, its deficit is small, and the factor of possible oil growth to 80 dollars is not taken into account now, - the expert notes. - Dollar after emotional purchases against the background of speculation will be back in the range of 63.4-64.2 rubles.

According to experts from Alpari, the weakening of the ruble exchange rate is speculative.

"The undertaking ruble exchange rate is beneficial to Russian exporters, especially the oil and gas sector industry, the agricultural sector, a number of types of engineering and metallurgy. So, the Russian budget will demonstrate a steady increase in surplus, but at the same time weakening the Nationalities will reduce inflation to the target forecast of the government and the Central Bank for 2018. At the level of 4%, "experts explain.

Last week, a group of US senators has submitted a bill with a whole set of anti-Russian measures to the Upper Chamber of Congress, including with sanctions against the new State Demand of the Russian Federation and Gosbankov. Any details were not revealed, so the experts began to guess the essence of the sanctions. Among one of the measures was called and disabling Russian banks from the SWIFT payment information information system. However, experts are confident that before that does not happen.

"It is unprofitable and the Americans himself. There are many foreign, including American, companies. The opponent of such a radical sanctuction project remains the head of the US Department of Europe, Stephen Mnuchin," they assure.

Recall that on August 8, the price of oil fell by 3%, naturally, the dollar and the euro rose by 2% and almost 2.5%, respectively. In Russia, the price of oil and the dollar rate (or euro) in the context of the stabilization of the economy is usually associated internally proportional dependence. If the price of oil is growing, the dollar rate is reduced, and vice versa, when the price of oil falls, the dollar is growing.

"In the future, the dollar will grow, but quite slow the pace, if there is no collapse of oil prices, which is unlikely due to the instability of the political situation in the world," the most experts surveyed by the Life.

According to economists, the Russians should not panic and rush to banks to change rubles for dollars and euros. Especially if we are not talking about long-term savings. Investments in currencies can be effective in long-term investment.

"What a longer period, a person wants to postpone the money, the greater the reason to look in the direction of the currency. For those who save for a year - two, there are no currency alternatives. Those who save for a short time, for several months, most often change the ruble on the currency is meaningless - the exchange first in one, then the other way is worth the money. And you can lose more on these expenses than to win on the currency course, they say.