Russia FX/Rates Snapshot - June 15, 2020
The ruble has softened 0.7% to 70.4, while Brent has given up almost 4% to $37/bbl. At current levels, the ruble looks attractive, in our view. Exporters could ramp up their ruble purchases ahead of rather big tax and dividend payments coming up at the end of the month. Today, we would expect the ruble to march back toward 70 as long as the oil losses do not turn into a rout.
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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