Russia FX/Rates Snapshot - December 15, 2020
Over the weekend, the Washington Post reported that US government agencies had been hacked and that entities affiliated with Russia were suspected. This morning, the ruble has recovered to 73.7, although pessimism continues to prevail on external markets. Given the high premium of the current ruble rate over the CBR fixing (72.92), significant sales of FX by exporters might be forthcoming early in the day today, which could help the ruble firm to around 73.3. However, oil prices could come under pressure later in the day. Moreover, US investors will likely begin to sell rubles later in the evening, as they did yesterday. The confluence of these two factors could see the ruble return to 73.8 in the second half of the session.
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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