Merrill Lynch: This August may be first when Russian ruble firms

MOSCOW, Aug 19 (PRIME) – This August can be the first August in a decade, when the Russian ruble will not fall, but firm thanks to higher oil prices, Merrill Lynch said in a statement seen by PRIME on Friday.

The peak of negative influence of seasonal factors has been left behind, Merrill Lynch said.

At the same time, the Russian national currency can be subject to volatility due to a lower current account surplus and continuation of easing of the central bank’s monetary policies.

The Merrill Lynch’s ruble forecast for the end of 2016 stands at 65 rubles per U.S. dollar.

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