20 Aug 2019 11:18

VIEWPOINT: We're expecting ruble to fall back from upper bound of 65-67 rubles/$1 range - Promsvyazbank

MOSCOW. Aug 20 (Interfax) - "We're expecting the ruble to try to bounce back from the upper bound of the 65-67 rubles/$1 range, which we consider to be the target for the coming days, as the situation in global markets normalizes and the oil market improves. In light of the complicated external situation and the absence of clear triggers for the strengthening of global appetite for risk - the key factors determining the current trend in the Russian currency - we consider the ruble's capacity to strengthen to be limited. We're retaining our conservative outlook for the ruble in the next few weeks." - Promsvyazbank analyst Yevgeny Loktyukhov.

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