Dollar to return to 61 rubles in two years — Goldman Sachs

Business & Economy March 13, 2020, 21:59

Oil prices will gradually rise to $60 per barrel within 24 months, according to the company

MOSCOW, March 13. /TASS/. The ruble rate will return to 61 rubles per dollar after the recent collapse to 75 rubles within two years, Goldman Sachs analysts say in their review.

Oil prices will stay at $30 a barrel during six months to come but will gradually rise to $60 per barrel within 24 months, analysts predict.

"Our commodity team now forecasts oil prices at $30/bbl for the next 6 months, followed by a gradual rise back to $60/bbl in 24 months," according to the review. "We find that under this scenario the ruble would initially depreciate to 75 USD/RUB before starting a trend appreciation back to 61," analysts say.

Inflation in Russia will remain much lower than 4% and will drop to less than 3% in 2021, Goldman Sachs say. The Bank of Russia is expected to reduce the key rate at the coming Board meeting but will most likely keep it as is until the mid-year, the bank noted.

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