Russia FX/Rates Snapshot - May 24, 2021. Tax Payments Should Help Ruble Strengthen Today
The focus today will be an EU summit, for which the agenda includes discussion of climate change as well as issues related to Russia. Novatek will pay R72 bln in dividends today, while NLMK will distribute R43 bln tomorrow, which is also the deadline for R540 bln in MET payments. We therefore expect exporters' hard currency sales to remain elevated today, which we think could help push the ruble to 73.3.
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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