Economist Bakhtin advised avoiding the acquisition of the currency of Iran, Venezuela and Afghanistan three exotic currencies, which are the worst for investing.
The expert strongly advised to avoid purchasing the currencies of Iran, Venezuela and Afghanistan, unless you plan to travel, temporary move or permanent residence in these countries. The economist noted that the currencies of the listed countries are unstable and unprofitable due to economic or political problems. He also added that the Turkish lira has recently joined this list, which has shown a fall of more than 40 percent since the beginning of the year.
“It makes sense for an investor to form a foreign exchange position against the dollar and euro, and the most optimal would not be keeping these currencies are in cash, and investing in financial instruments, “Bakhtin said.
Earlier, Deputy Chairman of the Central Bank Ksenia Yudaeva said that the ruble exchange rate helps to curb inflation. She added that the regulator expects to maintain the current exchange rate of the national currency. The cost of imported goods depends on the ruble exchange rate, which affects the inflation rate.