Russia FX/Rates Snapshot - January 25, 2019
In light of the ruble's recent appreciation and its subdued volatility, the CBR announced this morning that it would start making up for last year's forgone market FX purchases in February, when it will purchase R2.8 bln of FX daily. It intends to make up for the entire $31 bln of forgone purchases over the next three years. This means it will buy an additional $42 mln per day or $0.9 bln per month. The FX market should be able to easily absorb these purchases.
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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