9 Oct 2019 13:07

VIEWPOINT: Balanced dollar/ruble exchange rate currently closer to 66 rubles/$1 - Promsvyazbank

MOSCOW. Oct 9 (Interfax) - Given the current oil prices and macroindicators, a balanced exchange rate for the dollar/ruble pair is closer to 66 rubles/$1, according to Promsvyazbank analyst Mikhail Poddubsky.

"In the next few weeks, we expected that heightened risks will prevail for the dollar/ruble pair. Among domestic events, we emphasize the publication of data on the payment balance from the Central Bank, which is expected today. The dollar/ruble pair has returned to 65-65.50 rubles/$1, which could remain relevant until the [upcoming] round of trade talks ends," Poddubsky wrote.

Today's publication of the minutes from the last meeting of the Federal Reserve will be of interest for markets, but the week's most significant event remains the U.S.-China trade talks, which begin tomorrow, he wrote.

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