Russians began to massively sell euros and dollars

In 2017 the Russians sell more foreign currency, than buy it. Talking about it to the monitoring Center for the development of the HSE «is talking About the GDP.» Loss of interest in dollars and euros related to the low benefits of investment in them, and with the strengthening of the ruble.

The citizens of Russia began to sell more foreign currency because of the disadvantages of investments in the Euro and the dollar amid strengthening of the ruble. About this newspaper «Izvestia».

In the monitoring Center of the HSE «is talking About GDP,» argues that in 2017 the ruble demonstrates stability. Since January of this year against the dollar, the exchange rate rose 1.6%. Against this background, the net supply of foreign currency in the second quarter increased to 6.2 billion dollars which is 1.6% of GDP.

According to the Central Bank, the increase in demand for foreign money was recorded in July and August due to the holiday season. However, in September, the momentum has stalled. One of the authors of the monitoring, the Deputy Director of the Center for development HSE Valery Mironov noted that in the coming years, Russia is unlikely to be a large demand for the purchase of dollars and euros.

According to him, people will start to buy up currency if you feel the approach of a new devaluation of the ruble. However, the recent OPEC agreement+ extended, and oil prices will not fall.

The authors of the study stressed that the strengthening of the ruble is not only traditional precious oil, but also because of strong investor demand for bonds of Federal loan of the Ministry of Finance.

Also Russia has emerged from the acute phase of the crisis. According to the forecast of Ministry of economic development, at the end of 2017, the economy could grow by more than 2%.

Russians began to massively sell euros and dollars 08.12.2017

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