Russia FX/Rates Snapshot - February 15, 2022. Risks for Ruble Remain Two-sided, but Further Recovery Looks More Likely in Short Term
In focus today is the visit of German Chancellor Olaf Scholz to Moscow. On a positive note, after his talks with Ukrainian President Volodymyr Zelensky yesterday, Scholz said that Kyiv had pledged to consider legislation about a special status for the Donbass region. Given the signs that diplomatic discussions of the current crisis will likely continue and also amid the absence of FX purchases by the CBR, we think the ruble could slowly extend its recovery. Still, market sentiment remains highly fragile, so volatility is bound to stay high.
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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