The dollar has finally ceased to be a reliable and safe currency for investing savings, said a financial expert of Sovcombank Mikhail Vasiliev.
According to him, the freezing of Russia’s gold and foreign exchange reserves by Western countries, the blocking of foreign accounts of domestic companies and citizens, and the disconnection of Russia’s largest financial institutions from SWIFT have completely undermined confidence in the dollar in the world.
“In addition, there are still risks of expanding Western sanctions on the Russian exchange infrastructure. This makes the dollar and the euro toxic for Russians,” the chief analyst added in an interview with 1prime.ru.
The largest countries in the Asian and Middle East regions have ceased to trust the US currency and are withdrawing their reserves from dollar assets, he said.
Vasiliev is also sure that the situation will affect the parity of the euro against the dollar – the European currency will regain its superiority over the American one.
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