Is it worth buying dollars and euros now and is it profitable

2024 Author: James Gerald | [email protected]. Last modified: 2023-12-17 14:00

Is it worth buying dollars and euros now, when news about the instability of the national currency is heard everywhere - we will try to find an answer to this question and turn to the opinion of authoritative experts.

What the experts think

D. Golubovsky, representing the financial group "Kalita-Finance", advises those who want to protect themselves from the incomprehensible situation associated with the upcoming elections of the American president to buy the American and European currencies. If this event will to some extent affect the US stock market, then in the future there will be an adverse impact on all risky assets. All these political risks can provoke the ruble to fall even more.

There is a lot of talk today that if Biden wins, more tough sanctions may be imposed on Russia. Accordingly, this will not have a beneficial effect on the national currency of our country.

According to the expert, it is better to try to distribute savings by 50% towards the euro and the dollar, if money savings are not diversified. At the same time, the analyst recommends not investing all 100% of the available money only in currency.

The expert believes that the dollar quotes are quite fair and justified. With regard to the euro, the analyst does not see any potential for significant growth.

D. Ikonnikov, who represents the investment company QBF, connects the strengthening of the positions of the euro and the dollar against the ruble by the political events taking place in neighboring states and around the world. Many financial market participants rushed to get rid of the ruble, fearing potential risks. The fact that the Central Bank of the Russian Federation reduced the key rate to 4.25% per annum did not have a positive effect on the national currency.

The financial analyst also does not see any prerequisites for the euro to break through the maximum price mark. He expects that in the event of a favorable scenario with the coronavirus and the weakening of quarantine, it will be possible to expect an increase in demand for fuel, and, accordingly, for oil. This can support the national currency.

Ayaz Aliyev, who represents the financial management department at the PRUE, believes that the most favorable time to buy the euro and the dollar is already behind. He sees very real minimum marks for the euro around 95 rubles. and more. The dollar, according to him, must also cross the threshold of 83 rubles.

V. Zotov, manager of operational manipulations in the treasury of the Ural Bank for Reconstruction and Development, advises Russians to approach savings in dollars more carefully. The expert especially does not recommend buying dollars if a person plans to make purchases in this currency in the near future. The expert does not see it as a defensive asset, since, according to his observations, over a short period of time, even if we refer to the quotes 1 hour ago, the rate changes by tens of percent.

S. Khestanov, representing the department of finance and banking at the RANEPA, advises Russians who wish to create long-term savings to pay attention to the euro. Problems in the economic sector will, in his opinion, lead to a further weakening of the ruble's position.

If we turn to the long-term prospects, then inflation in the national currency is now expected to be much higher than in the American and European markets. This is why any kind of long-term savings is best kept in euros. A small part of the savings can also be set aside in dollars.

Long-term and short-term investments

Usually, large exchange players and financiers consider not the euro, but the dollar for long-term purposes. This is explained by the fact that in the case of this currency, more various instruments are assumed.

These include bonds, stocks, and more. Those who prefer to work at a short distance should consider the euro, as in the next six months, the dollar will decline against this currency.

The smartest approach according to investors

The best solution would be to diversify personal savings for different periods. Perhaps a person wants to buy currency and then sell it in a few months. In this case, you can get income, but at the same time there is a risk that part of the savings will be depreciated. This can be the case if you have to urgently spend part of the purchased currency. In this case, you will need to convert to rubles.

Distribute investments evenly in dollars and euros, and do not store savings only in rubles.

The ratio of the dollar and the euro in savings will depend on what financial obligations a person has today, what expenses and incomes, how much money has been accumulated and why he creates capital. At the moment, the investors who bought the euro, when this currency cost about 70 rubles, turned out to be the winners. For every 1,000 euros, the income amounted to 15,000 rubles. and more. Therefore, in the question of whether it is now profitable to buy dollars and euros, the conclusion suggests itself that keeping money in foreign currency is certainly beneficial.

Outcomes

1. Buying dollars and euros is still profitable now, but experts recommend distributing investments in both currencies evenly in order to avoid potential risks.
2. If you are planning long-term investments, financial analysts and stock market players recommend the dollar.
3. The euro also has good potential, but one can often hear from analysts the opinion that one should not expect big benefits from it. In the best case, investing in euros will help you keep your savings.