Free money is better kept in different currencies

«Today on the domestic market of the Russian Federation there is no pronounced trend, rather, continues stage (started in last decade of April) increased volatility. BID (quotation demand for passive interventions) CBR stands at 33.4 rubles., the boundaries are described as a crawling band 33.4 - 36.4 rubles. ", - says Dmitry Bank.ru Harlampiev , Ph.D., Senior Analyst, Analytical Department of the Bank Petrocommerce. "Factors ruble exchange rate remain the same - world market oil (determines the trade balance), risk appetite (determining factor in the formation of the net inflow / outflow of capital from the private sector ), the political decision of the Russian regulator. Oil prices are at a fairly comfortable level, risk appetite, mainly because of problems in the euro area is limited (however expressed capital outflow from Russia is objectively absent, as indirectly evidenced by the shape and position of the curve NDF). By the end of this year seems reasonable depreciation basket to 33.5 rubles. against the background of revaluation (strengthening, - Ed.) rubles to the dollar to a level 28.7. Enhancing Fed rates on federal funds by the end of the year does not exclude costs (estimated "step" of 25 bp). Talking about the stability / instability of a particular monetary unit is difficult, in the aspect of savings can be effectively diversify the currency structure of assets, say, 0.5 / 0.28 / 0.22 (ruble the U.S. dollar, euro). The ratio of debt to U.S. GDP is about 86% in the euro area figure is 79% Does it mean to us that the dollar is at this stage is much less preferable to the single European currency? "- Definitely not. leitmotif now be called fiscal and debt problems of countries in the Eurozone, delayed recovery of regional economies, investors' doubts that the European Foundation for financial stability is viable, continued reduction of the RA rating of problem participants Eurozone. However, the euro from a fundamental point of view, is underestimated, however, growth point "may appear in late July - August when they start to publish data on the budgetary situation in the euro area", - the expert believes.