The deterioration of the geopolitical situation may lead to an economic recession with the subsequent strengthening of the dollar. Such a forecast was made by the chief analyst of Sovcombank, Mikhail Vasiliev.
As he stated in conversation with Prime, some experts are predicting a global recession amid record inflation, the energy crisis, the rapid rise in rates by central banks, zero tolerance for covid in China. As a result, global investors will start to go into the protective US currency.
Vasiliev noted that this situation also implies a fall in prices for energy resources, including oil, which threatens to weaken the exchange rate to 70 rubles per dollar. In this regard, he recommended that part of the savings be kept in the currency, preferably of friendly countries. The analyst clarified that the strengthened dollar, as well as the euro, retain their toxicity.