• Citigroup has called an extremely profitable ruble currency

  • Analysts at Citigroup called the ruble an extremely profitable currency. On Thursday, November 3, reports Bloomberg. According to their forecasts, by the end of 2017 ruble assets can provide investors with a return of 15 percent.

    Over the past three months, investors who have borrowed dollars at near zero interest and invest in ruble assets, earned about seven percent. This is the highest figure among the 31 major world currencies, said the Agency.

    According to Bloomberg, after Central Bank head Elvira Nabiullina in September has promised to keep key rate at 10 percent until 2017, and OPEC members agreed to limit oil production, hedge funds increased the number of open their long ruble positions, almost three times — to a record 32.3 thousands of futures contracts.

    Despite the fact that the ruble has recently been falling against the backdrop of falling oil prices, analysts do not suggest to get rid of ruble-denominated assets. "Sell them unreasonable, as ruble-denominated bonds continue to bring a good income," said Lutz, Neumayer (Lutz Roehmeyer) from Landesbank Berlin Investment.

    2 November the price of Brent crude oil fell below $ 47 per barrel for the first time from 28 September 2016.

    On the same day, analysts at Sberbank CIB noted high demand among Russians for hard currency due to expectations of devaluation of the ruble.

    26 Oct experts interviewed by "Tape.ru", predicted, by the end of the year, the ruble is waiting for the weakening of the dollar. The U.S. currency may rise to 65-69 rubles.


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