Russia FX/Rates Snapshot - July 30, 2018
This morning, the ruble continues to trade in a tight range and turnover remains low. Today sees the end of the latest tax payment period. Companies are due to pay profit tax, which we estimate at about R320 bln. The ruble should therefore find support today, as some corporates could sell more FX today. However, we doubt it can appreciate significantly, as exporters probably sold a significant volume of hard currency for tax purposes last 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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