Analysts predict that Russia’s currency ruble, which often falls in August owing to the vacation season and falling oil prices, will strengthen against the dollar this month. The Russian Central Bank and the U.S. Federal Reserve System have established the pattern.
Russia’s Central Bank hiked its main interest rate by a full percentage point to 6.5 percent on July 23, the largest increase in seven years. Apart from that, it has enhanced the ruble’s attractiveness in carry trading activities.
Furthermore, the Central Bank’s statements and the latest weekly inflation data do not imply a further tightening of …
