Top Russian Ruble Forecaster Sees Fresh Run at Record Low - Bloomberg:
"The world’s top ruble forecaster is unimpressed by the currency’s 30 percent rebound from a record low.
The analyst -- Danske Bank A/S’s Vladimir Miklashevsky -- says the ruble could be testing new lows again this quarter as the plunge in oil, Russia’s top export, threatens to cost the country its investment-grade credit ratings and turns Russians away from their currency. The ruble traded at 62.7805 per dollar at 10:36 a.m. in Moscow, after reaching 80.1 on Dec. 16, the weakest on record.
“We can easily see new records as the oil price is much lower,” Miklashevsky said by phone from Helsinki, last week. Concern over a rating cut and the loss of confidence among Russians “are the ingredients for a further bout of weakness,” he said."
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