Russia FX/Rates Snapshot - July 13, 2020
The situation with the virus deteriorated over the weekend, but this has not kept markets from reflecting moderately positive sentiment so far today. The ruble has firmed slightly so far today, in line with EM peers. On the whole, volatility in the ruble continues to drop, and there are no signs of the recent elevated demand for hard currency. In fact, with tax and dividend payments in Russia due at the end of the month, we expect FX selling to gradually pick up pace. Against this backdrop, we think the ruble will likely approach 70 this week.
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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