Macro Analysis /
Russia

Russia Macro Insights: Ruble exchange rate – Incorporating new inputs

  • Ruble exchange rate posted high volatility during the new year holiday period

  • Kazakhstan’s political instability signals a more negative outlook for the ruble in the longer run

  • Russia-Ukraine relationship remains a factor to watch, especially for H2 22

Natalia Orlova
Natalia Orlova

Chief Economist

Alfa
10 January 2022
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