Pound grow by another 2.8% against the dollar before the end of the year

According to analysts, the ruble will continue to rise this year against a background of more expensive raw materials and increase investment, despite the fact that the Central Bank of Russia continues to cut rates. Russia currency can be strengthened by 2.8% to 29.2 against the dollar. At the same time the Bank of Russia yesterday lowered the refinancing rate by 0.5% to 10% and is likely to reduce it by another half percentage point before year end. At the very least, the reduction may be more ambitious: to 2.5% to 7.5%. In the second quarter of net inflow of capital in Russia amounted to $ 7.2 billion after the outflow of $ 35 billion in the first quarter. This is due to the fact that rising prices for raw materials again increased the attractiveness of assets denominated in rubles.