VIEWPOINT: Exchange rate to remain at 64.50-65.50 rubles/$1 in weeks to come - Bank Saint Petersburg
MOSCOW. May 29 (Interfax) - "This morning, markets are in the red amid weakened appetite for risk, stock index futures are falling, oil has lost over 1%, and EM currencies are weakening. The ruble is moving together with other risky assets, trading at around 64.90 rubles/$1. It's likely that in the next few weeks, the exchange rate will remain at 64.50-65.50 rubles/$1. In the medium term, we're keeping our moderately negative outlook for the ruble due to seasonal worsening of the balance of payments, upcoming dividend payments, continued risk that demand for Russian assets will decrease, and increased capital outflow," said analysts at Bank Saint Petersburg.
*** This article contains the opinion of investment or banking professionals obtained by Interfax. This opinion is provided for informational purposes only and is not a recommendation to buy/sell shares or to make any commercial or other decisions. Interfax does not accept any responsibility for the content of the article or any consequences resulting from its use.