Goldman Sachs Called the Russian Ruble One of the Three Most Attractive Currencies
OREANDA-NEWS. Goldman Sachs strategists have called the Russian ruble one of the three most attractive currencies for investors in emerging markets. At the first place The top three are the Mexican peso, then the Russian ruble (RUB) and the South African rand (ZAR) follow. These currencies can bring the greatest returns due to their undervaluation. Buying cheaper currency and trading at the developing markets, an investor can earn more.
The peso remains the top pick in this group as compared to the both currencies mentioned as well: although it seems to have less room for growth than some other high-yielding emerging markets," CNBC quoted analysts’ opinion.
Goldman Sachs’ analytics named the Mexican peso the most attractive emerging market (EM) currency when the coronavirus pandemic finishes. Although risks still prevail, and the dollar is in great motion, but it’s possible to think about the opportunities with these currencies in future, after the crisis ends.
Goldman Sachs selected the Mexican peso as the most attractive foreign exchange carry trade due to "high cyclical beta long positions and large stable long positions (buying in anticipation of a price increase)."