Chief strategist for emerging markets at one of Sweden’s largest banks SEB AB Per Hammarlund added optimism to challenging economic situation in Russia. He said that Russia’s ruble is one of the most attractive currencies amid Brexit.
"Ruble looks good even in the long-term run, from 6 to 12 months, because oil is not expected to be seriously affected by Brexit," Per Hammarlund said.
Besides, Per Hammarlund suggested that in the short-term run investors may become interested in the South African rand and Turkish lira.
"I think that appetite for emerging markets will get stronger, at least in the short-term run,” the strategist said commenting the EU leaders’ announcement that the UK should leave the union as soon as possible to reduce uncertainty.
The European stock market plunged and the US stock indices suffered the steepest declines in last 10 months following the publication of the British referendum results, which turned out to be surprising to most experts. The pro-Brexit camp won the referendum with the overall result of 51.9%. At the same time, the British pound lost 10% against the US dollar reaching the level of 1985.
