Russia FX/Rates Snapshot - December 23, 2020
After the ruble declined fairly strongly two straight days, today somewhat of a stabilization and perhaps even retracing of some of the recent losses seems likely. Today is the last day of this week when foreign investors will be active. On Friday over R300 bln in taxes are due from Russian exporters, who might start selling FX to raise rubles to make those payments, particularly given that the current levels would be attractive for buying rubles. Given all of this, we think the ruble will return to 75 today.
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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