The Russian ruble may become the most promising savings currency in November 2020, according to the expert on the stock market “BCS World of Investments” Mikhail Zeltser. Also, investors should pay attention to the euro and the Chinese yuan, RIA News reports.
“According to our estimates, at the peak levels of late September, the geopolitical risk premium in the ruble exceeded ten per cent. In October, the ruble recaptured some of the losses, but the fundamental foundations of the Russian economy are still stable, which, if the situation in the external orbit normalizes, can further strengthen the position of the national currency,” Zeltser said.
According to the expert, if you choose from world currencies, then the euro has more stable prospects than the dollar. The Chinese yuan was also considered interesting against the backdrop of an almost complete recovery of business and consumer activity in the PRC after the outbreak of COVID-19.