The Russian ruble traded at 78 per USD, rebounding from the 14-month low of 80.3 per USD hit on January 26th, as concerns of military action in Ukraine momentarily waned. Although the US rejected Russia’s security demands over Ukraine’s participation in NATO, Russian Foreign Ministry officials repeatedly emphasized that war with Ukraine is unacceptable. However, investors still treat Russian assets with caution due sanction threats of from western states. Meanwhile, Russia's central bank is seen raising interest rates further next month to tame inflation, erasing previous expectations that rates would ease in 2022. Yearly inflation was at 8.4% during December, among the highest rates since January of 2016 and far above the Central Bank of Russia’s target of 4%, prompting the CBR President Elvira Nabiullina to state consumer prices are expected to rise in the foreseeable future.
Historically, the Russian Ruble reached an all time high of 85.97 in January of 2016. Russian Ruble - data, forecasts, historical chart - was last updated on January of 2022.
The Russian Ruble is expected to trade at 78.11 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 80.11 in 12 months time.