Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Ruble to Drop in 2012 on Intervention, Renaissance Capital Says

The ruble will weaken against the dollar this year as the central bank acts to subdue gains in the currency and protect exporters, according to Renaissance Capital.

“There aren’t a lot of reasons why I would be bullish on the ruble,” Ivan Tchakarov, chief economist for Russia and the former Soviet Union at Moscow-based Renaissance, said in an interview at Bloomberg’s headquarters in New York yesterday. “We’ve reached levels where the central bank has started intervening.”

Tchakarov predicts that the ruble will weaken to 30.3 per dollar by the end of 2012. The currency strengthened 0.6 percent to 29.9 per dollar in Moscow yesterday.

Bank Rossii manages the ruble against a basket of dollars and euros to limit swings that erode the competitiveness of exporters.

The central bank has made “huge progress” in moving from monetary policy focused on controlling the exchange rate to targeting inflation, Tchakarov said. “Russians have become more adjusted to more volatile ruble movements.”

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.