Analysts recommend buying Russian Ruble

According to currency analysts Barclays Capital, the recent weakening of Russia's ruble due to profit-taking, fears of growing budget deficits by the end of the year and the influx of Russia's currency in the money market, although the influence of the third factor is not so much. As noted in the Bank, the ruble fell to the levels when the authorities stepped up the rhetoric with regard to strengthening the national currency, and now the probability of intervention is rather small. Analysts believe the bank best buy currency at these levels, although those who fear the volatility associated with the end of the year, recommend the use of option strategies. At UniCredit also pay attention to the weakening of Russia's currency, which now shows the worst monthly performance among emerging-market currencies. Given the stability of oil prices, a situation Russia's ruble looks strange. However, like their colleagues, bank analysts point out negative for Russia's currency factors, including increased budgetary expenditures at the end of the year, central bank intervention and the overall strengthening of the U.S. dollar. Nevertheless, the UniCredit strategists are also considering the current weakening of the ruble as a good opportunity to buy and declare their intention to increase short positions on the pair dollar / ruble at the beginning of next year. At the moment pair dollar / ruble is at 30.56.