Russia FX/Rates Snapshot - January 23, 2019
It seems that exporters are intensifying their FX selling, with trade volumes on the Moscow Exchange significantly up this morning. In addition, given the improved external backdrop, we expect foreigners to show good demand for OFZs at today's auctions (the Finance Ministry has decided to cut supply this week - see below) and actively buy the ruble, as they did last week. With this additional support, we see the local currency appreciating to 66 by the end of the day.
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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