Russia FX Beat - March 28, 2018
This morning, EM currencies are weakening again on concerns over the trade tensions between the US, the EU and China. The ruble is off 0.2%. However, the current USD/RUB spot premium to the CBR fixing is high at over 40 kopeks. Against this backdrop, and given that R650 bln in profit taxes is due today, we expect exporters to ramp up FX sales, which would counteract the pressure on the ruble.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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