Russian currency gains momentum
24 Jan, 2012 15:53
The rouble has reached a five month high against the dollar. A number of factors are pushing it higher, including stronger crude prices and shrinking liquidity in the banking sector.
“Usually in the first quarter exports are strong imports are low and that helps the rouble a lot. I would expect some more appreciation moving forward, but then end in the second half of the year”, says Alexandra Evtifyeva the senior analyst from VTB Capital. Explaining the recent fluctuations of the rouble rate since the end of 2011 the analyst says that “capital flows tend to cause short-term movements in the rouble and the fourth quarter was quite bad for capital outflow in Russia.”In an interview with RT she explains what to expect for the Russian currency in 2012.