People walk past money exchange offices in Moscow, Russia, on Wednesday, Sept. 17, 2014. (AP Photo/Pavel Golovkin)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Even after plunging day after day for much of the past two months, Russia's ruble remains overvalued by one key measure.The ruble has sunk 12 percent against the dollar since June 30, the biggest loss among more than 150 peers tracked by Bloomberg.The ruble rose 0.4 to 38.55 percent as of 3:21 p.m. in Moscow Tuesday.South Africa's rand, India's rupee, Indonesia's rupiah and the lira are 8.7 percent cheaper on average than their inflation-adjusted rates for the past decade, while the real is 4.1 percent stronger, Barclays data compiled by Bloomberg show.Morgan Stanley forecasts the ruble would weaken to 40 per dollar by the end of 2015 .The median forecast of 42 analysts surveyed by Bloomberg was for the ruble to rise to 37.30 per dollar by March.The $2.1 trillion economy will grow 0.25 percent this year, the worst performance since it shrank 7.8 percent in 2009, according to the median forecast of 38 analysts surveyed by Bloomberg.
FOLLOW THIS ARTICLE