What currency may soon become popular in Russia, the expert said

The head of the analytical department of Zenit Bank, Vladimir Evstifeev, believes that the demand for the UAE dirham may increase due to the reorientation of Russian trade to the East. TASS.

The advantage of the dirham is that it is essentially only exposed to the US dollar without the risk of sanctions. The dirham exchange rate against the dollar has been artificially maintained for many years and its stability is ensured by the potential of the UAE economy. In the conditions of reorientation of foreign trade to the East, relations between the Russian Federation and the UAE will be closer. It is possible that the UAE will become one of the main hubs for creating parallel imports. This will increase the demand for dirhams within the Russian Federation, ”explained Evstifeev.

According to the financier, it is necessary to create an accessible investment infrastructure for the Emirati dirham.

“As this currency is not the most popular on our list, its share in the initial phase should be around 5-10%, and its share can be gradually increased to 15-20% as the payment infrastructure develops,” Evstifeev says.

Previously, the dollar exchange rate, following the results of trading on the Moscow Stock Exchange increased up to 63.35 rubles.

Source: Gazeta


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