Ruble Falls Against the Dollar Amid Emerging Market Weakness | Business | The Moscow Times:
"Russia's currency performed better than its emerging-market peers last week, falling 0.5 percent versus the dollar, compared to 1.9 percent losses in the South African rand, a 2.1 percent slide in the Turkish lira and a 4.6 percent fall in the Indian rupee.
"We remain bearish on the ruble from a medium-term perspective, as Russian fundamentals are deteriorating and the Central Bank continues to focus on boosting ruble liquidity and is moving closer to easing policy rates," BNP Paribas said in a note.
"In the meantime, however, the ruble remains supported by stable oil prices." BNP forecasts that the ruble will decline to 33.75 to the dollar by the end of the year."
'via Blog this'
No comments:
Post a Comment