With the end of the summer holidays, the need for Russians to go abroad will begin to decrease, and therefore active foreign exchange purchase on the Moscow Stock Exchange will cease by September 2022. Trade123 Managing Director Vladimir Rozhankovsky expressed this opinion in an interview with socialbites.ca.
“Active foreign exchange buying on the Moscow Stock Exchange in July is explained by a seasonal factor. The second half of July, the beginning of August is when people traditionally try to leave Russia from abroad. Travel themes. In September, active foreign currency purchase will cease – values will return to April-May 2022 indicators, ”said Rozhankovsky.
He added that due to anti-Russian sanctions, Russians had to go on their summer vacations with cash. Hence the active purchase of money on the Moscow Stock Exchange.
“Because we blocked all the cards, the Russians are forced to fly outside Turkey with cash. Now, for example, I’m going to the Philippines for a few months. I looked at all the options available to me, finally decided that you should only go there with cash. And there are a lot of people like me in Russia,” concluded Rozhankovsky.
August 11 at the Central Bank reported On the purchase of money on the Moscow Exchange for 237 billion rubles. The Russians increased the volume of purchases from 176.1 billion rubles. 237.1 billion rubles in June. In July.
This indicator was a record in terms of net purchases for the individuals category. In the message of the Central Bank, it was stated that Russians mainly buy foreign currency through banks that make transfers to foreign accounts.
Source: Gazeta
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