The ruble has all chances to become the currency of global importance, writes the German edition. By the end of 2016, the Russian currency may strengthen by 20%, says chief economist at Saxo Bank.
MOSCOW, 31 Dec. The experts making predictions for 2016, I advise to pay attention on such currencies as the Russian ruble, as the currency markets may soon be surprising, writes Welt.
The ruble in 2016 may make an unexpected maneuver. Due to the huge expanses of the country and its vast resources, the Russian currency has all chances to become the currency of global importance. Although commodity crisis will put further pressure on the Russian economy, the potential for recovery of the ruble in 2016 is very large, the newspaper writes.
“If the oil price during the year, will begin to recover, it will give a boost to the ruble,” says Ronald Schneider, an expert on emerging markets from Raiffaisen Capital Management.
It is possible that in the near future, the Russian currency will start to grow, notes the author.
“By the end of 2016 the Russian currency to rise by 20%”, says Steen Jakobsen, chief economist Saxo Bank. As a potential factor for the recovery of the ruble, he sees not only a sharp increase in oil demand in the new year, but also a global disappointment in the Federal reserve system of the USA.
Despite the fact that the positions of the various analysts about the precise estimates of the growth of the ruble go, all the experts came to a common opinion that in the next year, the Russian currency is waiting for recovery, the paper concludes.