Russia FX/Rates Snapshot - January 28, 2022. Ruble Could Correct After Strong Growth
The ruble remained volatile yesterday but ended up appreciating sharply to USD/RUB 77.5, even despite the global strengthening of the dollar following the Fed meeting. Yesterday's gains came amid a more upbeat geopolitical backdrop. This morning the ruble is trading around 77.8. The geopolitical situation will continue to be in focus. We do not rule out that going into the weekend - when demand for FX tends to be elevated and following yesterday's sharp growth the ruble might correct back to around 78.4.
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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