Russians get rid of dollars and euros

Russians prefer to sell dollars and euros this year, write «Izvestia» with reference to the research development center of the HSE «is talking About the GDP.»

In late 2014 — early 2015 the Russians are massively buying up foreign currency as the Russian ruble is much cheaper, and the citizens rushed to convert their savings into foreign currency.

However, in 2017 the interest in currency investments fell due to the low yield of the us dollar to the ruble acceptamos. The net supply of foreign currency rose to $6.2 billion in the second quarter of this year, which is 1.6% of GDP.

According to the Bank of Russia, the demand for foreign currency increased in August and July on the background of the holiday season. By September, the trend reversed, and net demand for cash currency declined by 18%.

Experts note that this trend may be related to the fact that the Russians dropping the foreign currency assets because of financial need.

Russians get rid of dollars and euros 07.12.2017

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