The situation in the energy market may improve, which should create good conditions for the ruble’s growth, according to Mikhail Kogan, Head of the Analytical Research at the Higher School of Financial Management.
He noted that latest economic results in the United States turned out to be negative as retail sales dropped by 16.4% in April compared to March. Industrial production is also experiencing a serious decline showing performance indicators that are worse than during the Great Depression, Rossiyskaya Gazeta reports.
However, Mikhail Kogan argues, financial markets managed to withstand the blow. The energy market showing some positive dynamic is good news for the ruble. US dollar and euro exchange rates may fall back to the mid-March minimums during this week. It is possible they will continue to fall, the expert said.