Best Savings Currency During Coronavirus Crisis

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Best Savings Currency During Coronavirus Crisis

Reuters

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Economic expert, Dmitriy Papen, believes that the Swiss franc is the best currency that can be used in the coming months to save savings under the current crisis conditions.

Papin, a stock market expert, said the Swiss franc is one of the few currencies that can maintain its stability, given the coronavirus crisis and the changing geopolitical background.

He explained that European currencies outside the euro zone, such as the Swedish krona, the Swiss franc and the Danish kroner, have shown good results during the past six months, so that these currencies have surpassed the euro in growth against the US dollar since the beginning of this year.

He pointed out that the Swiss franc is expected to maintain its leading position in the long run, as it is one of the main currencies used to save savings during crises.

However, the expert warned that the demand for various European currencies, including the euro, may decline sharply in the near future, due to the high geopolitical risks associated with trade tensions between the United States and other countries, including European countries, economic problems in the European Union and the risk of The outbreak of a second wave of Corona.

He also indicated that the dollar could show instability due to the uncertainties associated with the presidential elections in November, and the politics of the US Federal Reserve, so it is most likely that the Swiss franc will be one of the few currencies that will maintain its stability.

Source: “Novosti”

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