icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
7 Feb, 2008 04:43

Rouble better bet than dollar: Merrill Lynch

Leading global investment bank Merrill Lynch is advising investors to buy the Russian rouble rather than the U.S. dollar.

In a research report published this week, Merrill Lynch predicts the rouble will gain more than 6 per cent against the dollar by the end of March.

The bank's forecast assumes that Russia's Central Bank will start letting the rouble appreciate strongly, in a move to combat inflation.

Russia's inflation rate was 11.9 per cent in 2007, and this year it reached nearly 2.5 per cent in January alone.