Stabilization of Russian ruble will continue

The stabilization of the Russian ruble will continue in the second half of the year, due to the world economy growth and the increasing interest in the Russian currency, predicted the Russian Ministry of Economy. The expects forecast average rate of 67.2 rubles to the dollar. In the first quarter rate was 74.7 rubles per dollar, while during the second quarter the exchange rate was 65.9 rubles per dollar.

The Russian currency is influenced by the outcome of the referendum in the UK. The recovery of interest in risky assets last week also supported the ruble. On Thursday, the Russian ruble rose against major world currencies. So rate against the EUR fell below 70 rubles for the first time in seven months, a this against the USD fell below 63 rubles for the first time since mid-April this year. The appreciation of the ruble on Thursday was due to increased oil prices, which a day earlier recorded declines of nearly 5%.

The analysts doubts that in the second half of the year, the ruble exchange rate will reach 60 rubles per dollar, while at the end of third quarter levels will stabilize at the level of 65 rubles per dollar at the price of Brent crude oil 50 USD per barrel. The potential for long-term strengthening of the ruble is depleted in the long run is about weight loss between 5 and 15%, ie up to 73-74 rubles to the dollar.

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