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Russian Ruble likely to strengthen by New Year's, experts say

The ruble may strengthen by the end of the year unless energy prices plunge and geopolitical risks exacerbate

© Dmitriy Rogulin/TASS

MOSCOW, July 31. /TASS/. The ruble’s exchange rate may strengthen against the dollar by the end of this year, according to the economic monitoring report prepared by the Russian Presidential Academy of National Economy and Public Administration (RANEPA) and the Gaidar Institute for Economic Policy.

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The ruble declined 9.6% against the dollar in April-June period of 2018 to 62.76 rubles per dollar, experts said. "Nevertheless, according to our estimates, in compliance with fundamental factors the expected value of the dollar’s nominal rate does not exceed 58 rubles," the monitoring said.

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