“It is better not to delay the purchase too much. According to my expectations, the Bank of Russia will maintain a tight monetary policy at least until autumn 2024. In addition, several measures supporting the ruble exchange rate are now in force. For example, a decree on the mandatory sale of income in foreign currency. Consequently, the ruble currently receives good support from the state and does not fall,” said Evan Golovanov, finance and investment expert and founder of the Multiplier financial club. RG.
However, according to him, if we look further, in the autumn-winter period of 2024, we will probably be able to see the ruble in other values, closer to 95 and more per dollar (currently 89.9).
“So if you are planning a vacation in June-August, then there is no point in waiting for a much better exchange rate, because most likely it will not happen. In summer, the exchange rate against the main currencies (dollar, euro, yuan) will be approximately the same as now,” said the expert.
If you need a large amount for the holidays, Evan Golovanov suggests using an averaging strategy. For example, you have vacations in July. You buy the same amount of currency each week. This way you will get an average rate before your vacation. This is a fairly effective strategy; It eliminates the psychological worries that it may seem to you that you bought at a high price, but you could have bought cheaper.
“Therefore, you should not worry and wait for the weather by the sea: go on vacation calmly. We will not see any serious currency shocks in the near future, unless, of course, there are larger geopolitical or economic forces. “Only a gradual weakening of the ruble is expected in the long term,” the financier concluded.
