Credit Suisse expects Russian currency to strengthen to 65-70 rubles to USD in 2021 – Business & Economy

Credit Suisse expects Russian currency to strengthen to 65-70 rubles to USD in 2021 – Business & Economy

MOSCOW, January 14. / TASS /. The ruble in 2021 will strengthen to a basically justified amount of 65-70 rubles for each US dollar, according to the forecast by the new economic study of Credit history Suisse released on Thursday.

“We expect the ruble to return to its basically sound stage in 2021. In our opinion, its weak spot was caused by temporary components,” the bank’s professionals consider. The rationale for the weak spot of the national currency was a combination of numerous factors, they discussed. Among them – the intention of the Russian governing administration to revise tax agreements with offshore nations around the world, as effectively as a sharp boost in the cash supply (the growth of hard cash and non-funds resources (M2) from the starting of 2020 to October accelerated from 10.2% to 16.2% calendar year-on-12 months). The pause in easing monetary coverage that started in September 2020 also experienced a detrimental effects on the Russian forex, the business included.

“The to start with aspect provoked an outflow of funds, and the next created…

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