The Russian ruble traded at 76.5 against the greenback during the third week of January, remaining close to a near nine-month low past 77 hit earlier in the month, as geopolitical tensions continue to weigh on the market. Russia said it was concerned about NATO's expansion, while the West urged Russia to de-escalate amid fears that Moscow may be planning an invasion of Ukraine. Elsewhere, Russia's central bank is seen raising interest rates further next month to tame inflation, as the country's economic recovery remained solid and as data showed the country's CPI rose 8.4% in December, the fastest pace since January 2016 and way faster than policymakers' target of 4%.
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 76.83 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 78.80 in 12 months time.