The Russian ruble depreciated over 1% to cross $73.5 on Friday, down from an over 4-month high of $72.6 touched a day earlier, after the Central Bank of Russia held rates steady at a record low and left the door open for further cuts. Meantime, the benchmark Brent crude eased slightly from a 9-month high but was still on pace for a seventh consecutive weekly gain. The ruble gained upside momentum earlier in the month, on the back of growing risk appetite due to Covid-19 vaccine optimism, further US stimulus and the easing of geopolitical concerns.
Historically, the Russian Ruble reached an all time high of 85.97 in January of 2016. Russian Ruble - data, forecasts, historical chart - was last updated on December of 2020.
The Russian Ruble is expected to trade at 73.83 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 75.30 in 12 months time.