Economist Grigoriev advised Russian tourists to buy foreign currency before December 5
MOSCOW, November 27 – RIA Novosti. Candidate of economic sciences Vladimir Grigoriev, in an interview with Sputnik radio, said that Russians who plan to travel abroad during the New Year holidays should buy foreign currency before December 5th.
It is assumed that from December 5, a new restriction on the Russian oil industry by the European Union will enter into force. We’re talking about the peak of oil prices in Russia. Grigoriev thinks that this measure affects an important area for the country’s economy and may affect the ruble exchange rate.
The economist believes that it is logical for Russian tourists planning to travel during the New Year holidays to stock up on foreign currency in advance and buy it at the most affordable price, so as not to “lose” it.
“If our tourist buys foreign currency before these sanctions come into effect, then he certainly will not lose, because there is a hypothetical probability of weakening of the ruble,” said Grigoriev.
But he is confident that serious changes in the foreign exchange market should not be feared.
He added that thanks to Russia’s trade surplus, the ruble has a very strong position.
“The ratio of ruble to dollar or euro in our country is determined by the balance of trade, that is, the ratio of the volume of exports to the volume of imports. If goods are purchased for other currencies, not dollars or euros, then we can say that there should be no big change in the course,” explained Grigoriev.
According to the economist, it is necessary to invest in foreign currency carefully, given the various restrictions imposed by both Western countries and Russia.