What currency to keep money in 2021

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

The question of which currency to keep money in 2021 worries many Russians. In order not to miscalculate, we propose to study the opinions of experts for today.

Simple guidelines

Ominous prophecies regarding the fall, denomination and devaluation of the ruble have been increasingly appearing in the media lately. But in fairness, it should be noted that the Russian economy is one of the twenty most sustainable in the world.

Nevertheless, people, afraid of losing their hard-earned savings, accustomed to trust exclusively themselves, sometimes act recklessly. Some buy up currency and jewelry, others save up rubles. As a result, both of them do the wrong thing.

The experts' opinions are as follows:

1. You should put money into circulation and get at least some profit. For example, invest in real estate, and then rent it out. So a person will remain not only with his own people, but also in the black. Since the price per square meter is constantly growing, which means it is ahead of inflation.
2. Formation of a "portfolio of currencies". In unstable times, you cannot completely trust one currency. The savings must be divided into equal shares: part in rubles, part in dollars and part in euros. Against the backdrop of the coronavirus pandemic, the American and European currencies are at risk. Therefore, it makes sense to pay attention to Swiss francs, Singapore dollars and Japanese yens, slowly forming a "mixed bank". In this case, it is very important to keep your finger on the pulse and get rid of one currency in a timely manner, buying another, more profitable for a specific period.
3. If there are loans, try to repay them as soon as possible. Fluctuations in the exchange rate of foreign currencies lead to the loss of own funds, since you have to give back at higher quotes.
4. If the accumulated funds are not enough to buy housing, there is an option - to invest them in precious metals or stocks, but only after having studied the securities market.
5. Switch to economy mode, do not make rash spending. During a crisis, the main task is to preserve. And only then think about multiplication. Just in case, a person should always have an "airbag" (funds for a rainy day). You can hold out on them for some time in the event of a job loss or in another difficult situation.

Studying the opinions of experts today about what currency to keep money in in 2021, it is worth noting the advice of the director of the Institute for Strategic Analysis of the FBK I. Nikolaev. In his opinion, in times of crisis, persistent recommendations cannot be given simply because there is no universal recipe. Each family has its own economic situation, and inside it it is better to know what to do.

Investing money in order to preserve and increase

The spread of coronavirus infection confused all the cards and forced a global revision of outlook on life. Given the volatile economic environment, there are two ways to think about it in 2021:

1. How to save money in the amount available today. Taking into account the annual growth of inflation by an average of 3-4%, prices for food and essential goods are constantly increasing, thereby partially devaluing the existing capital. In a year, it will be impossible to purchase goods for the thousand rubles set aside today in the volume in which it can be done now. In order not to lose money, experts recommend investing it. At the same time, invest only the amount that will not be needed in the near future. At the same time, do not cut from the shoulder and in no case get into debt, do not take loans, especially at high interest rates, no matter how tempting the offer may seem. The investment makes sense only if you have a stable, decent income. One part is to ensure a comfortable life, the second is to build up savings.
2. How to multiply by compensating for the inevitable losses. Set aside a certain amount every month to buy a large item. If you manage not to take from the "piggy bank" and achieve your goal - think about a long-term investment that brings passive income. At the same time, the proceeds should not be spent on trifles, but invested again. Moreover, in the currency that is stable today. It is worth constantly monitoring investments in order to clearly see which currency gives more interest.

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In what currency to keep money

Even experts cannot give an exact answer to this question - the course is constantly changing and can stagger in one direction or the other, depending on the economic situation in the world. Nevertheless, the US dollar is considered more trustworthy, as it is historically a defensive asset.

Due to the increased demand for it during the crisis, the rate grows faster. Despite the fact that the American currency accounts for more than 45% of world turnover, and its share in international reserves is 60%, the US economy is not immune from problems. Given the increase in the country's public debt by $ 25 trillion, there are risks here as well.

According to Mikhail Gennadievich Delyagin, a Soviet and Russian expert, the likelihood of the ruble returning to pre-crisis levels is unlikely. The already unstable national currency risks weakening even more due to the slow recovery in demand for hydrocarbons.

Buying dollars is also risky. With the approach of November 3 (US Presidential Election Day), a popular confrontation is possible, and the "American" may "fly away" by more than a third.

Delyagin added: “The fall in the dollar rate will not be abrupt; savings can be transferred from the American currency gradually. Therefore, it is most beneficial to keep your savings in euros or Swiss francs. The latter is supported by a strong economy. This is confirmed by the fact that the country's revenues are 10% higher than expenditures, which is a good indicator."

Vitaly Mankevich, President of the Russian-Asian Union of Industrialists and Entrepreneurs, considers the purchase of foreign currency inappropriate. Due to the situation in Belarus and with Alexei Navalny, the current exchange rate is 7% higher than the equilibrium one.

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Which currency to give preference depends on the purpose of the investor. If the plans are not long-term storage up to 6 months, then it makes sense to buy euros. In the long term, the American currency is more reliable. This is dictated by the fact that she has a wider range of instruments (stocks, bonds, etc.) for investments.

From the point of view of Georgy Vershinin, a financial market expert, it is profitable to keep money in foreign currency. He also noted that it is necessary to buy dollars and euros when the exchange rate stabilizes and slightly falls in price.

A diversified portfolio, including dollars, euros, rubles and federal loan bonds, remains the best option for storing savings.

The opinions of experts in what currency to keep money in 2021 are controversial. But they all agreed on one thing: there is no need to postpone a long-planned purchase.

Summing up

1. Given the unstable economic situation in the world, you should not trust any one currency, but form a portfolio in which euros, dollars and rubles will be in equal shares.
2. No matter how profitable the investment offer may seem, in no case should you go into debt and take out loans. If you already have them, try to give them away as soon as possible.
3. In addition to the American and European currencies, it makes sense to keep savings in Swiss francs.