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Top Russian Ruble Forecaster Sees Fresh Run at Record Low

Updated on

The world’s top ruble forecaster is unimpressed by the currency’s 27 percent rebound from a record low.

The analyst, Danske Bank A/S’s Vladimir Miklashevsky, says the ruble may reach new lows again this quarter as the plunge in oil, Russia’s top export, threatens the country's investment-grade ratings and turns Russians away from their currency. The ruble traded at 62.8855 per dollar at 4:35 p.m. in Moscow, after reaching 80.1 on Dec. 16, the weakest on record.