USD/RUB seen testing 53.50 in 12-month – Danske Bank

Analysts at Danske Bank now see the Russian currency appreciating towards the mid-53.00s within a year’s view.

Key Quotes

“Given persisting external risks for the RUB and possible downside risks from the oil price, we roll the current RUB levels”.

“We expect RUB and oil price divergence to shrink on worsened sentiment”.

“Expecting USD/RUB at 60.00 in 1M, 59.40 in 3M, 54.70 in 6M and 53.50 in 12M”.