Russia FX/Rates Snapshot - December 23, 2021. Improved External Backdrop to Support Ruble
In focus today will be President Putin's annual press conference at which he might comment on negotiations with the US. If the geopolitical tension abates, we think the ruble might firm to 73. Given that today, tomorrow and Monday exporters will be selling FX to raise rubles for an upcoming tax payment, the ruble might even dip below 73 in the coming days, particularly in light of the fact that foreigners will be mostly absent from the market due to the Christmas holiday.
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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