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Ruble Climbs as Goldman, Danske Upgrade Forecast on Oil Bets

  • Danske sees Russian currency at 66.4 in three months' time
  • Brent crude oil erases earlier decline, extends month's gain
Updated on

The ruble rebounded as Goldman Sachs Group Inc. and Danske Bank A/S raised forecasts for the currency, predicting further gains in its world-beating rally as oil prices stabilize and Russia holds back from cutting interest rates.

The currency strengthened 0.8 percent against the dollar to 67.963 by 4:41 p.m. in Moscow, after falling 1.1 percent earlier and taking its advance in the past month to 14 percent, the most worldwide. Brent oil rose 1.2 percent in London trading to $41.69 a barrel, extending its gain to 16 percent since the end of February.