The global economy will face difficulties in 2021, but a serious global banking crisis is likely not to occur, so deposits will be a good option for keeping savings. At the same time, experts noted that one should not give preference to the dollar.
According to John Hardy, chief currency strategist at Saxo Bank, banks in developed markets are more often than not “useful in many cases, especially in the EU,” and therefore economists see little risk for savers in large countries.
At the same time, he noted that there is always portfolio risk when keeping money in local currency.
Therefore, it is at least important to hedge if your portfolio has high foreign exchange risk or there is a mismatch between your income and liabilities., – the expert warned.
According to another expert, investment director Dmitry Polevoy, the standard advice for people with expenses in rubles, without experience and desire to monitor investments in the market, are deposits in rubles, despite the fact that rates have decreased.
If there are expenses in foreign currency, a part (20-30%) of savings can be kept in foreign currency, but now the rates for foreign currency are zero, and over a longer horizon in ruble equivalent, foreign exchange positions may be unprofitable– he said.
Experts also answered the question about investing in currency, stressing that they do not advise the dollar.
The preferred position would be to stay away from the US dollar and Japanese yen and look at emerging market currencies– said Hardy.
The economist also cited the Russian ruble as an example,
Earlier chernayakobra.ru wrote that the executive director of the Klopenko Group Dmitry Ivanov said that the placement of ruble funds in bank deposits will become profitable when rates rise. According to him, currently they have decreased to 4.2%, which is lower than inflation, which reached 4.5%.