Russia FX/Rates Snapshot - November 20, 2019
EM currencies are down by 0.2% this morning, while the ruble is down 0.4% and USD/RUB has broken above the important 64 level. FX turnover is up, indicating that exporters have increased FX sales. We expect this process to continue given the approach of tax payments, so the ruble will probably stabilize near 64. But the risks for the ruble are now skewed to the downside, as the trade talks could easily break down given the lack of progress in recent weeks and the rising tension in Hong Kong.
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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