The result of the constitutional referendum strengthened our view that the Russian ruble will remain well anchored – we expect stability against the US Dollar in the near term and a mild depreciation to RUB73/USD in the coming year.

The result of the constitutional referendum strengthened our view that the Russian ruble will remain well anchored – we expect stability against the US Dollar in the near term and a mild depreciation to RUB73/USD in the coming year.
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