WSJ:Russia Developer Sees Ruble Weakening To 33 Per Dollar By April
MOSCOW (Dow Jones)--Russia's ruble may weaken to 33 to the dollar by April, compared with 30.49 currently, a local commercial real-estate development executive said Tuesday.
Still, there is no point in protecting against the downside risk to the ruble because hedging is "too expensive in Russia," said Artyom Panin, Chief Financial Officer at Alcon Development.
Longer term, the ruble may strengthen, and that's one of the reasons that Alcon typically borrows in dollars, Panin said.
-By Nadia Popova, Dow Jones Newswires; +7 495 232-9192, nadia.popova@dowjones.com
(William Mauldin in Moscow contributed to this article.)
