Analysts at banks and investment companies believe that the ruble and Russian stocks will rise next week due to the impact of oil prices. This was reported by RIA News Based on the survey conducted.
The peak of the January tax period is approaching, which will strengthen the position of the ruble against the dollar and yuan.
“At the same time, in light of the ongoing problems with transportation in the Red Sea region, oil may compete for the Brent-type price tag of $ 80 per barrel,” says Alexander Bakhtin, analyst at BCS World of Investments.
Also Bank St. Viktor Grigoriev from St. Petersburg predicts that the possible strengthening of the ruble will limit the growth potential of the Russian stock market. Under these conditions, the Moscow Stock Exchange index will remain below 3200 points, but his colleague from PSB, Evgeny Loktyukhov, believes that in the environment of improving sentiment in stock markets, the index may rise to 3250 or even 3300 points.
Before that the Central Bank of Russia downgraded Official dollar and euro exchange rates.
Alexander Bakhtin, investment strategist, formerly at BCS World of Investments said socialbites.ca, how the situation in the Red Sea may affect the ruble exchange rate.