Russia FX/Rates Snapshot - December 13, 2021. Ruble Awaiting New Triggers
On Friday, the ruble firmed to its strongest level in nearly a month, reaching USD/RUB 73.3. Supporting it were expectations of an improvement in the geopolitical situation and a moderate weakening of the dollar after the US CPI printed in line with expectations. Today, the ruble has weakened slightly to 73.5 amid a sharp strengthening of the US dollar and downturn in EM currencies. We expect the ruble to remain near current levels given that new catalysts have not yet emerged. Such a catalyst could come if talks between Russia and NATO are announced.
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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