U.S. investment bank Goldman Sachs predicts that within three months the Russian ruble will have strengthened to 28 to the dollar.
After strengthening over the summer from the current Russian Central Bank rate of 30.4956 rubles to the dollar, the analysts predict the ruble-dollar rate will change little, increasing to 27.5 within 12 months.
Their forecast for the euro has the EU single currency steady at around 37.8 rubles for the next six months before firming to 37.1 rubles/euro in a year's time. The Central Bank set the euro at 37.6316 on Friday.
The Goldman Sachs forecasts are based on expectations of rising oil prices, which not only increase Russian budget revenues but will also facilitate the resumption of capital inflows.
The experts also expected the stronger ruble to contribute to faster growth in Russia's economy from mid-2010, predicting that Russian GDP will grow by 5.8% this year and 6.1% in 2011.
MOSCOW, May 31 (RIA Novosti)
