Named the date by which Russian tourists need to have time to buy foreign currency for trips abroad

The date by which Russian tourists need to have time to buy currency for foreign trips has been named

For Russian tourists who wish to go on New Year's Eve for boundary, it is better to exchange currency before December 5th. This advice was given in an interview with Sputnik by Vladimir Grigoriev, candidate of economic sciences. The reason is another “package with sanctions”, to which the ruble exchange rate is likely to react negatively.

“The eighth package of sanctions against the Russian Federation, adopted by the European Union in early October, in addition to other restrictions, involves the introduction of a price ceiling for Russian oil from December 5. Since this measure concerns an important sector of the economy, it may affect the situation on the foreign exchange market,” he said. That is, according to his forecasts, the dollar may show growth against the ruble. “We have such a pattern: when some restrictions or sanctions are introduced against Russia, the national currency begins to weaken temporarily. If our tourist buys foreign currency before the entry into force of these sanctions, then he will definitely not lose, since there is a hypothetical possibility of a weakening of the ruble, and there are no prerequisites for a strong growth in the exchange rate of the Russian national currency yet,” the economist added.

Reassured he, however, and those who do not have time – the exchange rate “over 100” is not and is not expected, the expected weakening of the ruble will not be serious. “If we take into account that imports have fallen sharply and part of imported goods is purchased not for dollars or euros, but for other currencies, then we can say that there should not be any serious changes in the exchange rate. If the sanctions will have an impact on the ruble, it will be very limited. The maximum fluctuation corridor can reach 10%, that is, 6-7 rubles. But I think that the changes will not exceed 5%,” he said.

At the same time, the expert added that buying cash for a trip abroad is an understandable necessity, but in general “investing in currency is not safe” . “Both Russia and Western countries have recently introduced various additional restrictions in the financial sector,” he stressed.

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