Lower oil price keeps the ruble under pressure - UBS

FXStreet (Córdoba) - The UBS analyst team notes that even though domestic pressures have eased, lower oil prices will likely keep the RUB under pressure.

Key Quotes

"After some domestic pressures have faded a bit, the lower oil price has evolved as the most important driver of the ruble and will likely keep it under pressure in the near term".

"We have revised our USD/RUB forecast to 53.0 in three months and to 48.0 in six and 12 months (prior: 46.0, 45.0)".