ZCZC
BCN-11
RUSSIA-RUBLE-FOREX
Real ruble exchange may slightly strengthen in 2019 due to current oil
prices – experts
MOSCOW, Feb 11, 2019 (BSS/TASS) – The real ruble exchange rate in 2019 may
slightly strengthen due to to the current level of oil prices, Gaidar
Economic Policy Institute and the Russian Academy of National Economy and
Public Administration said in their monitoring of the socio-economic
situation in Russia on Monday.
“According to the expert forecast, in 2019 if the current world oil prices
and the nominal ruble exchange rate, a slight strengthening of the real
exchange rate of the national currency and stabilization (in value) of the
level of exports and imports,” the document says. Experts point out that such
a trend will help maintain a significant positive current account. “However,
the risks of tightening sanctions, especially those aimed against the state
debt of the Russian Federation, can stimulate capital outflows and sharp
fluctuations in the exchange rate in 2019,” the study warns. Since the
beginning of the 2019, the cost of a futures contract for Brent crude for
delivery in April 2019 is about $ 60.
BSS/TASS/HR/1315