FT: the Russian ruble to beat other currencies by year-end

FT: the Russian ruble to beat other currencies by year-end© RIA Novosti. Igor Russkiyi the image Bank

Russian ruble at year-end beat other major currencies and has resisted the onslaught of the us dollar, writes the Financial Times.

«Russia is going to finish the year with the recovery of their position in the international arena, watching as its currency kept apart from other major economies and give back the us dollar,» — said the journalist edition of Elaine Moore.

According to her, the ruble since September rose against the dollar, which cannot be said about his «opponents» in the currency market.

Moore attributes this to the increase in oil prices and the prospect of improving relations between Russia and the West under the presidency of Donald trump.

From the point of view of an economist Nafta Zuka from Oxford Economics, given that the original interest rate in Russia is kept at around 10%, the price of oil stable, and the relationship between the elected President of the United States and Vladimir Putin is still couched in a positive way, there is every reason to think that in 2017 the strengthening of the ruble will continue.

The analysts emphasize that, although the Russian currency has strengthened, its starting point was low amid falling oil prices and Western sanctions. In addition, from the point of view of Peter Mathis from company Rabobank, excessive growth of the ruble could undermine the competitiveness of the Russian exporters of «hoarding» in 2014.

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