Russia FX/Rates Snapshot - June 5, 2020
We think the ruble has the potential to strengthen to 68.5 today, and consider 67-68 a fair level for it at right now. We expect it to reach these levels this month thanks to substantial FX sales by exporters and continued high FX sales by the CBR under the fiscal rule. With Nornickel due to pay out R90 bln in dividends on Monday, the ruble might get a boost already today.
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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