JP Morgan: Russian ruble to rise in price

Baku. 12 August. REPORT.AZ/ Analysts of JPMorgan Chase expecting the ruble to strengthen up to 61.36 per dollar by year-end, Report informs referring to banki.ru, Bloomberg said.

According to the information at present dollar exchange rate is at level of 64,7 rubles.Thus, JP Morgan forecast assumes a strengthening of the ruble by 5% by the end of the year.The consensus forecast of analysts surveyed by Bloomberg, on the other hand, suggests a weakening of the ruble against the dollar by 3%.

The course of the Russian national currency has appreciated by 14% since the beginning of 2016, which is the best indicator for the currency of emerging economies after the Brazilian real and the South African rand, despite the fact that in January 2016, the fall in oil prices has led Russian currency to a record low in 86 per dollar, agency reminded.

"The ruble may become one of the leaders in the emerging markets", - said analyst for emerging markets at JPMorgan Chase in London Saad Siddiqui.