Russia FX/Rates Snapshot - December 27, 2019
This morning, the ruble has rebounded a bit, as there is a decent USD/RUB spot premium over the CBR fixing. Trading volumes are up, with exporters eager to sell residual FX at current levels ahead of a profit tax payment on Monday. Nevertheless, we expect their FX sales to dry up by midday, while both the local and foreign bid for FX will likely rise later on, pushing USD/RUB to 62.5. There are few important global events and data releases today - the most notable is the ECB's latest economic bulletin.
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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