Financier Stepanova: the dollar may fall against the currencies of developing countries
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Associate Professor of the Department of Finance and Prices of the PRUE G.V. Plekhanova Diana Stepanova predicted a fall in the dollar rate in an interview with the Prime agency.
According to the financier, in the long term, the position of the dollar, in spite of the positive forecasts associated with the Fed rate hike, is unstable. Stepanova noted that the dollar is the world's key reserve currency, which will always be used to fill investment portfolios. However, after the economy recovers from the effects of the pandemic, the dollar may fall, especially against the currencies of developing countries, she said.
The specialist said that one of the factors that can affect the fall of the dollar is the escalation of the conflict between the United States and China and Mexico, which are the main partners of Europe. Stepanova called the Chinese yuan a potential alternative to the dollar on the world market.
Earlier, analysts called the ruble one of the best currencies in developing countries. During 2021, it lost less value than competing currencies. Since the beginning of the year, the exchange rate of the ruble against the dollar has decreased by 0.3 percent – from 74.4 to 74.65 rubles per dollar. Nearly all other emerging market currencies have weakened about 6 percent against the dollar since the start of the year.
