Analyst Vasilyev warns of the risk of the dollar jumping to 70 rubles due to the recession
MOSCOW, November 25 – RIA Novosti. The worsening of the geopolitical situation, along with the subsequent strengthening of the dollar, could lead to an economic downturn, he said. “Hitting the Primer” Sovcombank Chief Analyst Mikhail Vasiliev.
According to the expert, a number of analysts are predicting a global recession against the backdrop of record inflation, rapid rise in central banks’ rates and zero tolerance for the coronavirus in China. As a result, investors will begin to switch to the protective US currency. Vasiliev noted that this also means a fall in energy prices, which threatens to lower the exchange rate to 70 rubles per dollar.
Against this background, the analyst recommended keeping part of the funds, preferably in the currency of friendly countries. Vasiliev reminded that in addition to the strengthening dollar, the euro also maintains its toxicity.
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