NEYVA Bank: U.S. Dollar, Swiss Franc Can Protect Investors’ Money from Coronavirus

7 February 2020 (09:19)

UrBC, Yekaterinburg, February 7, 2020. NEYVA Bank’s experts believe the coronavirus outbreak that has already affected China’s stock market so badly could have a negative impact on the global economy as well; the U.S. dollar and the Swiss franc could prove the solution to investors’ problems.

According to Head of Stock Market Department at NEYVA Bank Dmitri Glebov, China’s economic growth might slow down to an all-time low.

‘It’s hard to assess the actual economic consequences at the moment, but the virus is bound to do some damage to the global economy in any case. Under the circumstances, governments in Asia-Pacific will have to take steps to support their economies, including lowered taxes and interest rates and extra funds on the internal finance markets. So for those looking to invest their money in foreign currency, buying the so-called ‘safe assets’ that are immune to loss associated with market cycles would prove the best strategy. In this particular case, these should be U.S. dollars, Swiss francs, and dollar- and franc-denominated assets,’ Dmitri Glebov says.

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