The ruble is likely to continue its decline against major world currencies and especially the dollar, updating the record of last year in currency trading. 90 rubles per dollar – is a Bloomberg forecast that was given by analysts.
The ruble is likely to continue its decline against major world currencies and especially the dollar, updating the record of last year in currency trading. 90 rubles per dollar – is a Bloomberg forecast that was given by analysts.
The ruble has room to weaken further, even beyond the record-low it set against the dollar a year ago, without inflicting terminal damage on the Russian economy, according to a survey of analysts, Bloomberg reports.
It is said that the currency would need to tumble more than 20 percent to at least 90 against the dollar to tip the country into a full-blown crisis, according to 17 of 20 respondents in a survey. Should such a threat emerge, the Bank of Russia has an array of tools at its disposal, including verbal and market interventions, an emergency interest-rate increase and capital controls, they said.
“It would take more than 90 rubles per dollar to provoke significant repercussions,” said Sergey Narkevich, an analyst at Promsvyazbank PJSC in Moscow. “In 2015, Russian monetary authorities managed to mostly avoid spillovers from the foreign-currency market and keep the financial system afloat and broadly functional.”
Remember that last December ruble fell to an all-time low of 80.10 against the dollar.
