RUB rises to highest since August 2020

RUSSIA / FSU POLITICS - In Brief 10 Jun 2021 by Alex Teddy
It seems like the Russian Central Bank will raise interest rates out of concern over rapidly rising inflation. Interest rates might rise to 5.5% on June 11. Inflation was 6% in May 2021. RUB was 72 to the USD on June 9. RUB is 87 to the EUR.It looks like the Russian economy has almost recovered from coronavirus. Comparing April 2021 with April 2019 (i.e. before the pandemic) consumer spending was 5% higher, industrial production is higher and unemployment is lower. The feel-good factor is present.Putin's summit with Biden in Switzerland on June 16 could impact markets either way.

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