Russia FX/Rates Snapshot - November 22, 2018
The ruble gained 0.8% yesterday, mainly on better sentiment, the gain being in line with those of peers. FX turnover was at a normal $4 bln, suggesting that exporters may have sold some FX ahead of the next MET payment deadline on Monday, when R640 bln will be due. Thus, exporters' FX selling was likely not the main driver of the ruble's appreciation. We think they will sell much more today and tomorrow, so the ruble has good potential to strengthen by another 1%.
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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