26 Mar 2015
Downward pressure remains intact around RUB – Scotiabank
FXStreet (Edinburgh) - In the view of strategists at Scotiabank, speculations of a weaker Rub in the next periods continue to build up.
Key Quotes
“The Russian ruble (RUB) has registered a double digit appreciation vis-à-vis the USD over the past month”.
“Weak economic fundamentals, geopolitical risks and lower oil prices will, however, continue to weigh heavily on the RUB, which has lost roughly half of its value since June”.
“This combined with further monetary easing by the Central Bank of Russia will maintain downward pressure on the RUB that is forecast to end the year at 67.0 in 2015 and 58.0 in 2016 against the USD”.
Key Quotes
“The Russian ruble (RUB) has registered a double digit appreciation vis-à-vis the USD over the past month”.
“Weak economic fundamentals, geopolitical risks and lower oil prices will, however, continue to weigh heavily on the RUB, which has lost roughly half of its value since June”.
“This combined with further monetary easing by the Central Bank of Russia will maintain downward pressure on the RUB that is forecast to end the year at 67.0 in 2015 and 58.0 in 2016 against the USD”.