Russian President Assessed the Prospects of the Dollar after the Victory of Trump or Biden
OREANDA-NEWS. Russian President Vladimir Putin said that, in his opinion, can be expected in foreign exchange markets and what could happen to the dollar after the US presidential election on November 3.
As the Russian head of state said, answering the question of international investors during the Russia Calling! Forum of VTB Capital, fluctuations in the exchange rate are possible, since if the US presidential candidate Joseph Biden wins, economic policy will change.
He says that it is now difficult to judge what might happen to the dollar exchange rate after Biden's possible victory in the presidential election.
According to Putin, if Donald Trump wins, the dollar exchange rate is more predictable, since the current president has been pursuing economic policy for many years. But given the size of the US national debt, which is constantly updating records, and the Fed's policies, it is difficult to assess the positive prospects for a significant strengthening of the dollar.
But regardless of the outcome of the US presidential election on November 3, all changes in the dollar exchange rate will affect the economies of all countries, including Russia, since the dollar has been and remains the world's reserve currency.
At the same time, the head of state emphasized that what is important is not what will be the exchange rate of the ruble against the dollar, but primarily its predictability and stability.