Russia FX/Rates Snapshot - February 18, 2022. Neutral Backdrop Shaping Up for Ruble Today
For the Russian market, all eyes remain on geopolitics in the short term. Presidents Putin and Lukashenko are to meet today, while Sergei Lavrov and Antony Blinken have agreed to hold talks next week. This morning, the ruble was trading in a range of 75.8-76.4. We think the ruble could trade sideways today if the geopolitical situation does not shift: local exporters could raise their offer of hard currency in the run-up to next week's tax payments, while at the same time international accounts could be more actively buying FX, closing or hedging their positions ahead of the long weekend in the US.
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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