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Saturday, October 22, 2016

Goldman Sachs predicted the coming of the ruble

Strategist at Goldman Sachs Kamakshya Trivedi said in an interview with Bloomberg that he and his colleagues believe the Russian currency is still undervalued by the market, despite the fact that in recent months, the ruble appreciated against the dollar by 14%.

photo: Gennady Cherkasov

Trivedi explained that the fairer course would be the positions below 60 rubles per dollar, whereas the current rate is around 66 rubles per unit of American currency.

Recall that the strengthening of the ruble against the background of rising oil prices recently exceeding $ 45 per barrel.

Read, when to buy currency for holidays.

Thus, according to Trivedi, the average rate of the Russian currency should be 62 rubles per dollar and local currency itself will move in the direction of strengthening. The majority of analysts with Goldman Sachs strategist disagrees and is called the average annual rate of 69 rubles per dollar.

They proceed from the fact that by mid-year will be exhausted the growth potential of oil prices, and their new fall dragging down the ruble, which once again will be able to break the psychological mark of 70 rubles per dollar.

Opinion about the reduction of oil prices in Goldman Sachs again, I do not agree and believe that they are still able to rise to 62 dollars per barrel. In addition, the company believes that the ruble will be able to influence and “a good account of current operations”, as well as recovery in the terms of trade — that the Central Bank is called the “new reality”, which replaced the crisis.

Recall, however, that the economic power of Russia has repeatedly stated reluctance to allow excessive strengthening of the ruble that could have a negative impact on the export of Russian products.

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