Analyst Vyazovsky gave Russians advice on savings

Analyst Aleksey Vyazovsky advised to keep funds in gold, rubles and foreign currencies. He spoke about this on Sunday, May 29, in an interview with Sputnik radio.

He recalled that the Central Bank softened the temporary procedure for cash transactions, now Russians can buy it without restrictions, except for US dollars and euros. Banks can sell these currencies only from stocks received on April 9th.

According to the expert, the Russians should do the same as the Central Bank does with respect to its own reserves – “distribute funds among different egg-pods.”

“For example, up to a third of the Central Bank’s reserves are invested in gold – you can buy gold. The second third is to accumulate rubles for the current life, because we live in Russia and spend in rubles. Another third – you can have some foreign currency on hand if you are planning some kind of vacation, ”he said.

According to Vyazovsky, one can also take a closer look at the yuan. He suggested that Russia would reorient itself towards the East. The analyst noted that this is not only China, but also the Arab countries. He believes that their currencies will be freely traded in Russia.

“If you are not embarrassed by the high spread, that is, the difference between the purchase price and the sale price, which, of course, will be at the start, then you can buy some of this,” he said.

In addition, the expert advised those who are going on trips abroad to buy dollars and euros. So, he recalled that these currencies are accepted in Egypt and Turkey.

Earlier, on May 20, PhD in Economics, financial analyst Mikhail Belyaev said that the ruble is now the most stable currency for Russians, while buying other foreign currencies for Russians in most cases simply does not make sense.

He noted that foreign means of payment can be bought if the Russians plan to travel to other countries.

On the same day, Russian Prime Minister Mikhail Mishustin said that de-dollarization is a priority for the Russian economy. According to him, Russia considers it important to do everything so that the actions of unfriendly countries do not affect economic cooperation within the CIS.

On the eve of the assistant to the President of Russia Maxim Oreshkin called the ruble exchange rate absolutely market. He noted that the Russian national currency is strengthening due to a strong balance of payments due to high prices for exported oil.

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