Analysts reveal what awaits ruble in 2020

Credit: Alexey Sukhorukov | RIAN

Over the past year, the Russian ruble grew stronger against US dollar by around 10% and outperformed the currencies of other developing countries, including those of BRICS members (Brazil, India, China, South Africa).

The growth was due to stabilization of the commodity market, gradually releasing tensions between the United States and China, high demand for Russian government bonds and some other factors. Experts believe that this year the ruble will be still dependent on external factors, including geopolitics, which creates certain risks, according to Lenta.Ru.

In particular, the ruble and other currencies may be affected by the presidential election in the United States later this year. The election is expected to increase volatility of financial markets and as a result, the exchange rate may drop to 65 RUR per dollar.

Additionally, the ruble may get hit by new sanctions, which, in turn, depends on the US President’s policy. However, experts note that when it comes to sanctions, there is a positive trend as US authorities are trying to relax the “dire sanctions” against Russia.

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