Ruble's World-Highest Volatility Seen Getting Even More Extreme
- Deterioating outlook for oil will drive more price swings
- Currency's projected 3-month volatility is the world's highest
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Ruble traders are confronted by the most volatile currency in the world, and Goldman Sachs Group Inc. says they should prepare for even wilder trading.
Last week’s selloff in oil pushed the ruble beyond 61 per dollar for the first time since March, wiping out most of its 2015 gains. While the Russian currency had roller-coaster swings in the past year, it has been slow to reflect the recent worsening outlook for the price of crude, the country’s biggest export. That has increased the risk for more volatility, according to Andrew Matheny and Clemens Grafe, economists at Goldman Sachs in Moscow.