Russia turns ruble into 'super-profitable currency'

Consultants advise investors not to abandon ruble assets, despite the fact that the Russian national currency began to weaken, Bloomberg writes.

In fact, the Russian national currency began to weaken.

In recent years, it is ruble-denominated assets that have provided investors with the maximum returns, despite the ruble's weakening due to falling oil prices and waiting for news on the US Federal Reserve rate, Bloomberg said.

In just the past three months, investors who bought ruble assets have received a return of up to 7%. This is the highest figure among 30 other currencies.

According to experts interviewed by Bloomberg, the yield on ruble bonds could double to more than 15% by early next year. One of the largest international financial groups Citigroup Inc. believes the ruble will become a “super-yielding currency.”

Yang Dan, chief analyst at London-based Ashmore, said the ruble was a buy at the end of the year. Next year, Dan said, the ruble could be in high demand amid a potentially weaker dollar.

According to Sputnik