Russia FX/Rates Snapshot - November 30, 2021. Potential Reduction in Geopolitical Premium Supporting Ruble
This morning the ruble weakened to 75 amid reports that existing vaccines may not be effective against the new variant. Still, we think the move will prove short-lived as worries about vaccine effectiveness have largely already been priced in. In addition, levels around 75 are very attractive for buying the ruble, against the backdrop of a likely further reduction in geopolitical tensions. Thus, we do not expect the losses to extend today.
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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