{"id":3654,"date":"2016-09-26T10:38:48","date_gmt":"2016-09-26T14:38:48","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/russian-fx-executives-expect-correlation-ruble-oil-prices-strengthen-remain-unchanged\/"},"modified":"2016-09-26T10:38:48","modified_gmt":"2016-09-26T14:38:48","slug":"russian-fx-executives-expect-correlation-ruble-oil-prices-strengthen-remain-unchanged","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/russian-fx-executives-expect-correlation-ruble-oil-prices-strengthen-remain-unchanged\/","title":{"rendered":"Russian FX Executives Expect The Correlation Between The Ruble And Oil Prices To Strengthen Or Remain Unchanged"},"content":{"rendered":"
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Bloomberg poll also shows they agree with the decision to free float the ruble<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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Moscow, 26 September 2016: Moscow based firms expect the correlation between the ruble and oil prices to strengthen or remain unchanged in the next year, according to a Bloomberg foreign exchange survey of traders, strategists, and corporate treasurers, issued today.<\/p>\n

The survey was conducted at a Bloomberg FX16 event on September 8 in Moscow which attracted more than 650 attendees. During the event 130 FX market participants were polled and the results show that:<\/p>\n

\u2022 Nearly three-quarters (72%) of respondents expect the correlation between the ruble and oil prices to strengthen or remain unchanged in the next year, with the remaining one-quarter expecting the correlation between the ruble and oil prices to weaken.<\/p>\n

\u2022 In approaching the second anniversary of the free-floating ruble, the majority of FX executives (79%) agree with the decision to have put this in place. Disparities exist with regards to the timing of the decision, as 39% of respondents feel it should have been implemented sooner, versus 11% who said it should have been later.<\/p>\n

\u2022 30% of Moscow-based firms feel that hedging against market volatility serves as their greatest FX challenge, while 22% cite navigating regulatory requirements or managing currency exposures (20%) as hurdles.<\/p>\n

\u2022 There is no consensus on the biggest risk to the ruble in the coming year, but the majority, nearly one third (30%), of respondents cite geopolitics and sanctions as the biggest threat; just under one-quarter (23%) consider US rate hikes as the most critical threat, followed by commodities (18%). Contrarily, very few respondents cited the Russian elections or the Chinese economy as the biggest risks to the ruble, at 12% and 5% respectively.<\/p>\n

\u201cBloomberg has been in Russia for almost 20 years. We are working closely with firms in Russia to provide the technology and services needed to address the increasing challenges they face, including market volatility and evolving regulatory requirements,\u201d said Tod Van Name, Global Head of Foreign Exchange Trading at Bloomberg L.P. \u201cAdditionally, our FX16 symposiums provide a forum for FX experts around the world to network among their local community while sharing ideas that drive business growth and efficiency.\u201d<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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About Bloomberg<\/p>\n

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company\u2019s strength \u2013 delivering data, news and analytics through innovative technology, quickly and accurately \u2013 is at the core of the Bloomberg Professional service, which provides real time financial information to approximately 325,000 subscribers globally. For more information, visit www.bloomberg.com<\/a> or request a demo<\/a><\/p>\n

Media Contacts
\n\u2022\tAMERICAS., Pam Snook, pamsnook@bloomberg.net, +1-212-617-7653
\n\u2022\tEMEA, Anna Schoeffler, aschoeffler1@bloomberg.net, +44-20-3525-0776
\n\u2022\tASIA, Belina Tan, belina.tan@bloomberg.net, +65-6231-3637<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Moscow based firms expect the correlation between the ruble and oil prices to strengthen or remain unchanged in the next year, according to a Bloomberg foreign exchange survey of traders, strategists, and corporate treasurers, issued today.<\/p>\n","protected":false},"featured_media":0,"template":"","format":"standard","categories":[86,17],"press_tag":[],"class_list":["post-3654","press","type-press","status-publish","format-standard","hentry","category-bloomberg-professional-services","category-press-announcement"],"yoast_head":"\nRussian FX Executives Expect The Correlation Between The Ruble And Oil Prices To Strengthen Or Remain Unchanged | Press | Bloomberg LP<\/title>\n<meta name=\"description\" content=\"Moscow based firms expect the correlation between the ruble and oil prices to strengthen or remain unchanged in the next year, according to a Bloomberg foreign exchange survey of traders, strategists, and corporate treasurers, issued today.\" \/>\n<meta name=\"robots\" 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