Macroeconomic Forecast Russia

June 2006 | Macroeconomic Forecasts

BMI View: The rouble has appreciated significantly against the dollar this year, despite the recent financial market jitters, reaching RUB26.73/US$ in early June - a nominal firming of over 7% since end-2005. In an indication of the strength of upwards pressure, the central bank bought nearly US$20bn in April alone in its ongoing efforts to limit rouble gains against the globally weak dollar. Over a medium-term outlook, prices for oil and other key Russian commodity exports such as metals are set to remain high, as is foreign borrowing by Russian corporates, while FDI inflows are likely to rise. The scrapping

If you would like to subscribe to Russia and CIS Monitor and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Russia and CIS Monitor please click on the trial link below.