Sberbank SEO expects ruble to strengthen at year end

Chief executive of Russia’s Sberbank German Gref said that the Russian ruble may strengthen at  60-62 rubles per dollar at year end.

According to him, Russia's national currency is closely related to oil prices, but they are not easy to predict. 

Sberbank SEO said that he trusts one of old and experienced analyst, Henry Groub, who thinks that "the oil price at year end will be $60-62 per barrel." "That means that the ruble-dollar rate will be about 60," TASS cited Gref as saying.

"These are the trends so far. No one knows how the situation with the coronavirus will evolve. In the event of the second wave, the ruble may start fluctuating," the SEO of Sberbank concluded.