Russia FX/Rates Snapshot - August 20, 2021. Ruble Stabilizing, Geopolitical Backdrop Could Improve
We think the ruble should be able to gain a foothold around the 74 level. It should get a boost as well from what looks to be a positive geopolitical event: German Chancellor Angela Merkel will meet with Russian President Vladimir Putin today and then with Ukrainian President Volodymyr Zelensky on Sunday. Liquidity remained comfortable yesterday, with banks' correspondent accounts at the CBR edging only slightly lower to R3.6 trln, about R600 bln more than what is required for reserves averaging. Against this backdrop, O/N interbank rates have normalized and yesterday fell from 6.48% to 6.43%. We expect liquidity to remain plentiful today and O/N rates to remain near these levels.
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.