26 June 201409:15
Bank Koltso Urala: Ruble to grow weaker in the medium term
June 26, 2014. The US dollar exchange rate dropped to below 34 RUR per dollar and stood at 33.65 RUR last Monday. The same minimum was observed in mid-January 2014, Bank Koltso Urala reports. According to the head of the bank’s Currency Transactions Deparment Igor Nesterovitch, the ruble mainly grew stronger due to the positive news inflow (ceasefire in Ukraine’s South East, Europe’s ‘mild’ sanctions towards Russia, and recalled permission for the Russian troops to enter Ukraine) and the current fiscal period which stimulates demand for rubles. Nesterovitch feels, nevertheless, that the ruble