PRAVDA.Ru

Dollar to rise against euro until G7 summit

27.01.2004 | Source:

Pravda.Ru

Over the next week and a half, the dollar will be rising against the euro until it reaches $1.21 per euro, Mikhail Khazin, the President of the expert consulting company NIAKON, announced in an interview with RBC. According to him, after the meeting of the G7 finance ministers scheduled for February 7 the dollar will resume falling. In order that the dollar decline will have a positive influence on the Russian economy, the government has to work out an investment strategy, the expert believes. A number of tactical moves being made by the Central Bank testify to the fact that the dollar will remain strong.

When the ruble rate is on the rise, investing in the Russian economy becomes more profitable, Khazin pointed out. According to him, it is a good moment for putting money into development of the Russian industrial sector in order to hedge Russia against the flood of imports. These policies are not being pursued by authorities, and therefore Russia does not profit by the dollar’s recent collapse, the expert said.

http://english.pravda.ru/news/russia/27-01-2004/55225-0/

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