Russia FX/Rates Snapshot - February 25, 2022. Ruble Stabilizing Amid CBR Action
Yesterday, against the backdrop of Russia launching a military operation in Ukraine, the ruble plunged more than 10% to reach 90. However, it managed to eventually stabilize yesterday at 85 thanks to CBR action. Today, the local currency remains stable around 84.5. The CBR will offer today R3 trln in ruble repo for a period of 3d and will continue to carry out FX interventions. Against this backdrop, we think the ruble should stay around 85.
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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