Russia FX/Rates Snapshot - April 12, 2019
This morning, the dollar is firming again against EM currencies, and the Turkish lira is down another 1%, USD/TRY almost touching the March 22 local high of 5.85 (which it reached with an intraday surge of 7%). If it breaks this level today, the lira could plunge further, spurring more weakness across EM currencies. However, USD/TRY is currently holding relatively stable near 5.8 and could decline later as the lira tends to appreciate in the second half of the day after losses in the morning. The ruble is set for mild gains unless the lira resumes tumbling and spurs a selloff across EM FX.
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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