Worth buying Rubles?

Orlando1088_2

Do you think it would be a smart idea to buy Rubles since the crash and wait until they go back up in value and then convert them back to GBP?

I don't have a lot of experience with this but it seems like a long term investment which could pay off, whatever goes down must come back up again at some point.

nearlyrich

I don't think it's that easy to buy Roubles in the UK

asajj

You can of course buy roubles in the UK. Post office, banks all sell it.

My take on is that unless you have large amount of cash, exchange gains are rarely worth the hassle.

callum9999

asajj wrote: »

You can of course buy roubles in the UK. Post office, banks all sell it.

My take on is that unless you have large amount of cash, exchange gains are rarely worth the hassle.

Well normally not, but if you invest now and it goes back to it's previous rate then your money would have doubled.

The big question however is whether it actually will go back to it's old rate. If there was any level of confidence that it would then people would already be buying huge quantities of them.

asajj

Rouble is already going back.

callum9999

asajj wrote: »

Rouble is already going back.

It's bouncing up and down at an incredibly low level.

It obviously isn't simply going back otherwise every financial institution on the planet would have poured money into Roubles.

asajj

I didn't say otherwise. I work in banking so of course not as much as you i still do know some stuff.
I'm just not suggesting by investing let's say £100 you gain much. If it was possible to double up as you suggest, everyone would be pouring their money too.

callum9999

asajj wrote: »

I didn't say otherwise. I work in banking so of course not as much as you i still do know some stuff.
I'm just not suggesting by investing let's say £100 you gain much. If it was possible to double up as you suggest, everyone would be pouring their money too.

I was actually suggesting that it isn't really possible without major risk, and was under the impression you saying that the Rouble is rising meant you thought it was!