World Economy

Worst Is Over for Ruble

Worst Is Over for RubleWorst Is Over for Ruble

The Russian ruble is climbing. The currency is up 0.45% at 65.039 per dollar as of 7:39 a.m. ET, Business Insider reported. Meanwhile, Brent crude prices are higher by 0.2% at $47.17 per barrel. In the longer-term view of things, a Deutsche Bank team led by Elina Ribakova believes that when it comes to the ruble, “the worst of deleveraging seems behind us.” “We expect the ruble to appreciate to 61.5 against the dollar by end 2016 and 57.5 by end-2017 assuming oil price of $45 per barrel in 2016 and $50 per barrel in 2017,” they wrote in a note to clients.