The financier called yuan and rupees alternatives to dollars and euros for diversification

Yuan, rupees, lira, UAE dirhams, precious metals and commodity assets may become an alternative approach to hedging in the context of sanctions restrictions and the shortage of reserve currencies in the Russian market. This was announced on September 25 by Elmira Assiaeva, Associate Professor of the Department of Global Financial Markets and Fintech at Plekhanov Russian University of Economics.

"Friendly currencies remain the most affordable solution. The yuan, the rupee, the lira, and the dirhams of the UAE provide diversification of the currency basket, although their volatility may exceed the dollar and the euro," she said in an interview with the Prime agency.

Assiayeva stressed that, choosing her proposed approach, it is important to take into account the correlation of overpowered currencies with the ruble and the economic cycles of the issuing countries. At the same time, according to her, precious metals such as gold, palladium, and platinum continue to be traditional assets that, given Russia's position in these markets, perform a "protective function" of capital. The expert added that oil, gas, metals, and grains, as hedging instruments, will compensate for the weakening of the ruble due to their growth, and real estate provides protection from inflation.

The financier noted that as practical recommendations, a good advice would be to put the available funds "in different baskets," for example, to store 30-40% in friendly currencies, 20-30% in precious metals, 20-30% in commodity assets and real estate.

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