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Thursday, May 26, 2022
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Russians Urged to Ditch Dollars

Investor Losev was urged to temporarily convert dollars into rubles and place them in deposits

Alexander Losev, CEO of Sputnik Capital Management, said cash dollars remain a popular currency. However, managing them non-monetarily, it is worth taking a number of actions, the expert said in an interview with the Prime agency.

The investor urged the Russians to temporarily abandon the dollars, convert them into rubles and place them in deposits. Now the rates are still high, which will allow you to make a profit on the currency exchange due to the difference in discount rates.

“A serious vulnerability has been discovered in the world economic system built over the years: stop the “printing press” and raise Fed rates, break global commodity chains due to sanctions against Russia, destabilize the market energy and other accumulated vulnerabilities, which lead to a powerful economic crisis that has not occurred since the times of the Great Depression, “Losev warned.

According to the expert, world money will not disappear instantly, but the dollar will not always occupy a leading position in the market. “Therefore, it is necessary to get used to currencies like the Chinese yuan and trust the ruble more,” he concluded.


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