Currency market strategist Popov: Lira lost 29% against the dollar in November The ruble is in seventh place, Yuri Popov, a strategist on the markets of currencies and interest rates at SberCIB Investment Research, calculated, RIA Novosti reports.
Lira was named the worst currency, since it lost 29 percent against the dollar. The ruble has fallen in price by four percent in a month. Most other developing and developed country currencies fell 1-3 percent against the dollar. For example, the euro lost two percent, the British pound three percent.
According to Popov, two factors contributed to the weakening of the ruble: geopolitical tensions and the strengthening of the dollar due to expectations of a tightening of monetary policy by the Federal Reserve System (FRS) USA. Also, news about the spread of a new strain of coronavirus had a negative effect on the ruble. In December, the expert expects the national currency to recover to 73 rubles per dollar.