we think that now russian state debt market is in final stage of its growth. It is obvious fact that it will lead to strengthen of Russian ruble or ruble will be stable relatively.
At the moment, the key factor determining the dynamics of the Russian currency is the inflow and outflow of money in Russian bonds. The current rubble appreciation is associated with a new influx of non-residents in GOV Bonds. Wave analysis of Eliot showed that at the moment we are drawing A to ABC (B is of a higher order), which means that the rubble will...
