Russia FX/Rates Snapshot - April 25, 2019
Yesterday, the ruble weakened 1.05% as exporters failed to provide support with FX sales despite today's tax payments. In addition, foreigners were buying FX near 64.0-64.1, likely taking profit after the recent ruble rally. Today, the ruble is down another 0.5% as the dollar has continued strengthening globally and amid news that Russia will make it easier for residents of the so-called DNR and LNR to get Russian citizenship. Other negative factors for the ruble today, in our view, include a lack of support from exporters and a further drop in the oil price.
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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