Economics
Never Mind the Sanctions, You Can't Ignore the Ruble Carry
This article is for subscribers only.
Worried the risk of fresh U.S. sanctions and falling oil prices will keep Russia’s ruble under pressure? Don’t fret, says the currency’s top forecaster.
The allure of one of the highest interest rates globally will eclipse the factors that drove the ruble to its worst quarter since 2015, according to Sebastien Barbe, head of emerging-market research and strategy at Credit Agricole CIB. Last quarter’s most-accurate ruble watcher sees the Russian currency recovering to trade at 57 per dollar by the end of the year.