Dollar Surges to 78 Rubles: What's Behind the Rise and How to Protect Your Savings

As June drew to a close, the dollar edged closer to the 78-ruble mark on the non-exchange market, prompting concerns about the ruble's weakening value. According to Guzel Protsenko, general director of Alfa-Forex, the decline in the ruble's value can be attributed to several factors, including the Finance Ministry's increased purchase of foreign currency, the drop in Urals oil prices below $60, and low sales of foreign exchange earnings by exporters. Protsenko recommends that investors diversify their currency portfolios by distributing their assets across the ruble, dollar, euro, and yuan to minimize risk. This strategy, she explains, helps reduce dependence on fluctuations in a single currency. Despite the ruble's decline, ruble-denominated deposits and bonds continue to offer high yields, making it wise for investors not to put all their eggs in one basket. If current trends persist, Protsenko predicts that the dollar could reach 78-79 rubles, the euro 89-90 rubles, and the yuan around 11.5 rubles by early July. By spreading investments across different currencies, individuals can better protect their savings and navigate the volatile currency market.