Russia FX/Rates Snapshot - June 28, 2021. Ruble Could See Pressure From Tax Period Having Ended
The ruble may come under pressure today given that tax and dividend payments this week will be much lower, meaning much less support for the local currency from Russian exporters selling hard currency. As a result, we expect the ruble to weaken to USD/RUB 72.5. In terms of key events today, focus will be on the G20 foreign ministers meeting.
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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