The Central Bank hurries Russians to hand over currency
Collected from the beginning of the crisis dollars and euros should be cashed into ruble. According to the department management, transfer of foreign currency reserves in rubles will encourage improvement of the Russian economy.

Collected from the beginning of the crisis dollars and euros should be cashed into ruble. According to the department management, transfer of foreign currency reserves in rubles will encourage improvement of the Russian economy.
In the end of the last year, when the dollar has stepped over a mark 30 rubles, and euro - 40 rubles, Russians have amicably started to buy up currency. By estimates of experts during this period nearby 70 mld dollars were bought by individuals. Consumer demand fall took place in March of this year. Then the Central Bank of the Russian Federation fixed changes in the cash currency market: in March exchange offices bought more currency than was sold on 1,3 mld dollars. In April the Central Bank bought 8,17 mld dollars and 331 million euro what became the maximum point of currency purchase from the market since the beginning of the crisis.
Officials of the Central Bank consider that the ruble will strengthen till the end of the year if the population start to close long currency positions. Central Bank statements should provoke some activization of currency sales, but this effect will not be long - eventually population savings don’t define dynamics of the currency market.
According to the head of the Center of economic researches in Institute of globalisation and social movements Vasily Kartashov (it is presented by the agency "Kommentarii. ru") if in January banks were prepared for the worst, reserving currency, now they try to adapt for new conditions and wait for positive changes.
"This is a very dangerous pacification. Stabilization is prepared only by injections of means in corporations, but not by change of payable demand of the population. It can hold on still some time, but then recession all the same will take place. And it can appear more serious, than before.
According to the expert, the second devaluation can quite occur, but while stabilization proceeds it is not to be awaited. The situation in the world market should worsen at first. Now it is warmed up by light money of the governments, but it is not a victory over the crisis at all. Crisis continues to develop. Some of its symptoms are removed, but problems which have generated it still remain.
In general, time factor and investment purposes are always very important in operations with currency, as well as with any other assets. There is no unequivocal universal answer to questions like "to sell or buy currency", analysts mark. All depends on what share of savings, for what term and for what purpose is being put in.
" During ruble devaluation we urgently recommended Russians to be cautious in their aspiration to get rid of rubles and buy dollars - many of them have bought currency for prices higher than current levels, tells Vladislav Isaev, the head of press-office of Investment company Finam. Besides one should take into account difference between purchasing and selling rates of exchange, established by banks. They really essentially reduce profitableness and raise losses when money means is exchanged to currency and back. Undoubtedly, in the long-term plan ruble will strengthen in comparison with dollar and euro. However substantial short-term recoils of the market are likely to take place so ruble will weaken in comparison with dollar and euro".
Experts advise, if you have money means in currency "for rainy day", in case of some catastrophic situations in the country when ruble can essentially collapse, moreover if this money lies on the deposit account with high interest rate, it is not necessary to deal with currency manipulations.
Artem Krasnov