Weekly Export Risk Outlook, November 5

11.06.2014 ZF English

The ruble is continuing to decline despite the Russian central bank's actions to stabilize the national currency, Euler Hermes analysts said in the latest Weekly Export Risk Outlook report.

The ruble depreciation accelerated recently as a result of falling international oil prices and the new sanctions imposed on Russia by the US and the European Union. Since mid-2014, the ruble lost 28% against the US dollar and 18% against the euro, Euler Hermes said in its report.

The EH analysts expect the ruble to fall a further 10% against the dollar by the end of the year.

For other information about the European and global economies, see the full report.