Russia’s Battered Ruble Could Be About to Make a Comeback
- Currency has weakened even as oil prices have recovered
- Schroder Investment’s Barrineau says sanctions risk overblown
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A rebound might be in sight for the Russian ruble after three straight months of losses.
The currency of the world’s biggest energy exporter is one of the worst performers in emerging markets in the period, even as oil rebounded by almost 30%, prompting analysts at Citigroup Inc. and Sova Capital to suggest the ruble is fundamentally undervalued.