The Russian ruble firmed beyond the 72.5 mark against the US dollar, its strongest level since the end of June, supported by a recovery in oil prices and a sharp increase in the central bank's key rate in July. The benchmark Brent crude traded above $75 a barrel, the highest in two months on falling US inventories. On the monetary policy front, the country's central bank raised interest rates by 25 bps to 6.75% during its meeting in September and left the door open to further increases if necessary.
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 September of 2021.
The Russian Ruble is expected to trade at 73.83 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 75.82 in 12 months time.