VIEWPOINT: Current dollar/ruble exchange rate close to balanced - Promsvyazbank
MOSCOW. July 8 (Interfax) - "Last week, the dollar continued to strengthen on the global currency market. The publication of relatively strong data on the U.S. labor market decreased the likelihood of a sharp rate cut of 50 points at once by the Federal Reserve. Last week, the ruble came under temporary pressure, and the dollar/ruble rate rose to over 63.80. The current dollar/ruble exchange rate, in our view, is close to balanced. For the coming week, we're expecting a range of 63-64.50 rubles to the dollar." -Promsvyazbank chief analyst Mikhail Poddubsky said.
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