The Russian ruble appreciated for a third day to cross $77.2 on Friday, in line with emerging market currencies as investor’s risk appetite continued to be supported by prospects of further stimulus. The ruble was heading for a more than 1% weekly gain, the most in four months and more than its peers as it recovers from recent weakness on a bumper gain in oil prices. The benchmark Brent crude was on track for a weekly gain of over 10%, the largest since June. Still, the ruble remained not far from a 6-month low reached in the previous week, due to concerns that Moscow may face more Western sanctions. The currency has been pressured by political risks related to the crisis in Kyrgyzstan and Belarus, the suspected poisoning of Alexei Navalny, the military conflict in the South Caucasus, and rising coronavirus cases.
Historically, the Russian Ruble reached an all time high of 85.97 in January of 2016. Russian Ruble - data, forecasts, historical chart - was last updated on October of 2020.
The Russian Ruble is expected to trade at 77.26 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 78.81 in 12 months time.