Economist Zaostrovtsev: Panic grips the broad masses of brokers

Many factors are in favor of strengthening the ruble, but the crisis in relations between the Russian Federation and Ukraine does not allow the currency to get out of problems, economist, professor at the Higher School of Economics Andrei Zaostrovtsev said in a commentary to a Rosbalt correspondent.

“The issue of the fall of the ruble should be addressed to the President of Russia. Although I’m not sure that he understands what he plans to do tomorrow. Maybe fluctuating? In any case, the jump is caused by purely political events,” the expert noted, referring to reports of a possible invasion of Russian troops into the territory of Ukraine.

According to Zaostrovtsev, under different conditions, the ruble could get stronger today.

“All economic factors are in favor of this: the price of oil, the price of gas, and the excellent balance of payments. Everything you need! Many stockbrokers say that if it weren’t for politics, the dollar would cost 70 rubles, no more. But politics is politics. Panic moods begin to cover the broad masses of brokers. Here is the result,” said the expert.

He added that the crisis also affected business assets in Russia. Shares in many companies have fallen in price by an average of 20% compared to October, recalled Zaostrovtsev.

“In the stock markets, people try to predict the future. Therefore, the exchange reacts to all such events, ”the economist explained.

According to him, the owners of “iron nerves” should buy shares now, while they are at a minimum. If the situation with Ukraine normalizes, it will be possible to earn 20-30% per annum, summed up Zaostrovtsev.

Recall that the dollar exchange rate in trading on the Moscow Exchange on January 24 amounted to 79.25 rubles as of 15:00 Moscow time, and the euro rose to 89.55 rubles. Thus, the records of November 2020 and May 2021, respectively, were broken.