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Date: 11 months ago   Category: Finances

The best investment. The dollar since the beginning of year has risen in price almost for 18%


In nine months 2018 banal purchase of dollars was one of the best ways of investment of capital. For comparison, euro for this period has risen 11%, the index of the exchange — for 9%. On what horizon to hold the American currency? Photo: To depositphotos.com the Banal investment decision — to buy cash dollars and to hold, in 2018 it shows fine profitability. And it wasn't even necessary to invest these dollars in eurobonds: they though give the quite good coupon, but because of sanctions have lost in price. Since the beginning of year the ruble falls and this with the fact that prices of oil keep highly and have even grown up for this period. If to take longer horizon, then the dollar anyway rose against ruble. For example, in 20 years even if to head after devaluation of 1998, the dollar has risen in price by more than three times, that is has added more than 200%. To be fair It should be noted that in zero the dollar fell nearly six years in a row in relation to ruble not only in nominal, but also in real terms. For the last ten years not only ruble, but also other currencies of developing countries have fallen in price in relation to dollar and other currencies of the developed countries. After crisis of 2008 the relation of investors to emerging markets began to change, and after the European debt crisis of 2011 this relation has changed radically, the director of the analytical department "Loco-Invest" Kirill Tremasov says: Kirill Tremasov the director of the analytical department "Loco-Invest" "Actually since 2011 economic dynamics was displaced from emerging markets towards developed. The last five-six years emerging markets significantly lagged behind in dynamics developed. It is clear, that for this period the dollar, of course, was the most attractive currency. Profitability in the past isn't guaranteed and in the future. It is connected with the corresponding parameters of credit policy and macroeconomic policy. For 20 years you won't find any of emerging economies where inflation would be lower, than in the USA. But in recent years after all rates of inflation in developing countries and in the USA have considerably approached. If to predict for 20 years, then not the fact that history will repeat". There were periods when in rubles it was possible to receive high profitability: for example, in 2014 on bonds of a rate there were 16-17%. If to look at all history of the Russian currency, then investments in dollars in the long term were more favorable. Many factors play advantage of dollar and now, the expert of BKS Ivan Kopeykin:ivan Kopeykin the expert of BKS "Factors of growth of dollar says quite a lot. Monetary policy toughening. For example, rates on bonds grow, respectively, there is an overflow of money from emerging markets back in the most risk-free tools. Already even rather profitable bonds of the USA, the same Treasures. Plus decrease in tax burden in the USA creates a certain inflow of the capital, demand for the American assets too. The sanctions rhetoric doesn't give to ruble too

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