Expert lists the currencies that are in danger of collapse in 2022

(ORDO NEWS) — The economic crisis will overtake several countries in Asia, Europe and South America, the financial analyst said.

The currencies of several countries, including Turkey, are expected to collapse in 2022. This was stated by the director of the regional network for work with wealthy clients “BCS World of Investments” Grigory Sosnovsky.

According to him, the situation with the Turkish currency is caused by the unpredictable economic policy of the country’s President Recep Tayyip Erdogan.

“The lira is rapidly depreciating, government foreign exchange reserves are falling, the rate is at 14% (this is infinitely far from practically“ free ”money in the European Union, USA, Japan, and so on), foreign investors are already starting to leave and even flee from Turkish assets,” – quotes the expert agency “Prime”.

Sosnovsky also named states with developing economies, whose incomes depend on the export of raw materials and energy resources. Among them are Uzbekistan and Brazil, where inflation is high, economic growth has slowed down, and the exchange rate of national currencies is depreciating against the US dollar.

The expert also pointed to Argentina, where the economic crisis has lasted for decades, and the key rate is at a record level for the world economy of 38%. According to Sosnovsky, the rate of the Argentine currency will also continue to decline.

Earlier, financial analyst Andrey Plotnikov predicted a fall in the ruble against the dollar in 2022. In his opinion, by the end of the year, the value of the American currency may well reach 77-78 rubles. In this regard, Plotnikov recommended keeping money in a diversified basket – rubles, dollars and euros.

On the New Year’s Eve, the dollar in the course of foreign exchange trading on the Moscow Stock Exchange rose by 1.4% and exceeded 75 rubles for the first time since November 30 of this year. Also, for the first time since the end of November, the euro rate exceeded 85 rubles.

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