Russia FX/Rates Snapshot - May 25, 2021. Ruble May Find Support from Unveiling of NWF Investments, Confirmation of Putin-Biden Meeting
We think the ruble might advance to around USD/RUB 73, given that exporters may still be selling some hard currency today. Further support could come if the investment projects using funds from the NWF are officially announced - use of those funds would reduce the FX purchases made by the CBR - and also if a Putin-Biden meeting is confirmed.
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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