Russians advised to get rid of dollars

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Photo: Grigory Sysoev / RIA Novosti

It’s time to sell dollars and buy rubles, said in an interview with Business FM, the Minister of economic development Maxim Oreshkin East economic forum (WEF).

In his opinion, in the medium term the course stabiliziruemost at the level of 63-64 rubles for one dollar. On 10 September the us dollar exchange rate broke the mark of 70 rubles.

“We had forecast that we did at the beginning of the summer, and now under the budget process in late August-early September, the forecast was updated. All we’ve changed are the dynamics for the next 6-12 months,” said Oreshkin.

He noted that “you need to buy when they are fearful”. Although now all are “in a nervous condition”, the situation will soon reach a peak and begin this rapid backward movement, said the official.

The economic development Ministry predicts a gradual return to macroeconomic equilibrium. In the framework of a floating exchange rate can be significant exchange rate fluctuations in connection with short-term capital flows and market sentiment.

Video, photo All from Russia.

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