Russia FX/Rates Snapshot - February 12, 2020
EM currencies advanced yesterday amid the growing risk appetite. The ruble received additional tailwinds from rising oil prices and late reports that the Russian government would buy the CBR's stake in Sberbank, which would reduce the volume of hard currency purchases by the Finance Ministry. We think the local currency could strengthen 1.4-3.0% from current levels when the deal's details become clear, the exact amount depending on how long the FX selling will last. The ruble outperformed its peers with a gain of 1.2% yesterday, closing at 63.38 to the dollar.
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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