Russia FX/Rates Snapshot - April 4, 2019
Yesterday, USD/RUB traded in a range of 65.05-65.35 for most of the day. Headlines emerged early in the day that US senators were planning to submit a new DETER Act. Later in the day, fresh headlines emerged that the actual bill had been published. Both of these events pushed USD/RUB higher, toward the upper bound of the range, but the spikes were short-lived, as exporters met the demand for hard currency. Meanwhile, the general positive mood on global markets helped the ruble close 0.1% stronger on the day. The Finance Ministry yesterday announced that it would spend R11.6 bln ($185 mln) daily, a total of R255 bln, on FX purchases from April 5 to May 13, compared with R15.4 bln daily during the current period. The decrease in purchases at a time of high tax payments - even though we expect taxes to be slightly lower in April than in March - will be supportive for 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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.