Ruble could strengthen to 60 RUB/$1 on Friday – Sber CIB

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The ruble could strengthen to 60 rubles/$1 in Friday trading, Sber CIB experts wrote. The ruble stabilized on Thursday and managed to add 2% at the end of the day, fixing below 62 rubles/$1. According to Sber CIB experts, the ruble correction may have ended, as the increased demand for the currency has satiated. According to their forecasts, thanks to the strengthening of oil, the ruble on Friday could approach 60 rubles/$1.

„Brent oil has been mostly trading in the range of $104-106 per barrel since the morning. If macro statistics in the US show growth in the number of jobs and hourly wages, the prospects for demand for motor fuel will improve, in which case Brent could rise in price to $108 per barrel” – write the experts of the investment bank.