Extent of the ruble’s rise

The dollar value has dropped below 52 rubles, the euro below 55 rubles, which is comparable with the levels in November 2014. Vasily Yakimkin, a docent of the RANEPA Chair for Stock Markets and Financial Engineering, believes that the ruble has reached its peak. He admitted that the Russian national currency could gain an additional 1-2 rubles in value in the ratio to the dollar and the euro. According to Yakimkin’s evaluations, the ruble will then start falling again.

Overall, the expert sees the ruble in the global trend of developing markets, where similar processes were seen around currencies in the past two weeks. Yakimkin said that they were losing positions to the dollar once again, just as the ruble will.

The analyst speculates that the ruble would be quite unstable. The high refinancing rate, the key rate, he explained, was high, the world was acting in favour of the ruble as a carry trade by buying the dollar, euro and Sterling pound.

Yakimkin added that if the Bank of Russia would lower the rate on April 30, the ruble would be put under pressure. Falling oil prices are the main tool putting pressure on the ruble. As soon as oil prices start falling, Vasily Klimkin believes, the ruble will be under duress again.

The dollar value has dropped below 52 rubles, the euro below 55 rubles, which is comparable with the levels in November 2014. Vasily Yakimkin, a docent of the RANEPA Chair for Stock Markets and Financial Engineering, believes that the ruble has reached its peak. He admitted that the Russian national currency could gain additional 1-2 rubles in value in the ratio to the dollar and the euro. According to Yakimkin’s evaluations, the ruble will then start falling again.Overall, the expert sees the ruble in the global trend of developing markets, where similar processes were seen around currencies in the past two weeks. Yakimkin said that they were losing positions to the dollar once again, just as the ruble will.The analyst speculates that the ruble would be quite unstable. The high refinancing rate, the key rate, he explained, was high, the world was acting in the favour of the ruble in carrytrade by buying the dollar, euro and Sterling pound.Yakimkin added that if the Bank of Russia would lower the rate on April 30, the ruble would be put under pressure. Falling oil prices are the main tool pressurizing the ruble. As soon as the oil prices starts falling, Vasily Klimkin believes, the ruble will be under duress a