Russia FX/Rates Snapshot - November 17, 2020
The local currency has slipped 0.3% this morning to 76.4, despite the fact that markets have made modest gains this morning. We believe that the correction in the ruble will not last long, and expect it to turn around today and likely settle below 76, a major USD/RUB support level. Today, the ruble could get a boost from potential oil price gains if the OPEC+ JMMC recommends extending the current production cuts through 1Q21.
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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