Western analysts predicted the rise in the price of the ruble

By | August 31, 2020
Western analysts predicted the rise in the price of the ruble

Western analysts considered the Russian ruble too cheap against the major world currencies and predicted its imminent rise of 6%, Bloomberg reports citing analysis data from Citigroup and Sova Capital. Western analysts considered the Russian ruble too cheap against the major world currencies and predicted its rapid rise of 6%, Bloomberg reports citing analysis data from Citigroup and Sova Capital.

The ruble remains “undervalued” despite an increase in the price of oil by almost 30%, analysts note. They emphasize that the seasonal weakness of the Russian currency is exacerbated by geopolitical risks, in particular the risk of new Western sanctions against Russia.

The risk of sanctions exists because of The West’s fears about protests in Belarus and the hospitalization of Alexei Navalny, the article says. At the same time, James Barrino, the finance manager at Shroder Investment, believes that the imposition of sanctions is unlikely in the face of the upcoming US presidential election.