Economist explains what happens to ruble in summer

The Russian ruble will not get stronger until late May, according to economist Denis Raksha.

He noted that the ruble is repeating the course of the falling Urals oil price. Markets do not understand what will happen next so all the risks are factored into the ruble exchange rate and the oil price. The situation is unlikely to stabilize before late May when the agreement on cutting oil production between OPEC and Russia will take effect.

Denis Raksha, quoted by the National News Service, stressed that in the nearest future, the ruble will definitely not get stronger. The economist added that the oil prices will not remain at the current level for a long time and rebound to previous rates.

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