Russia FX/Rates Snapshot - October 12, 2018
The ruble, along with other EM currencies, was supported by global dollar weakness yesterday. It strengthened 0.9% versus the greenback. Foreigners were the most enthusiastic buyers of the local currency, while exporters were less interested. It seems to us that Russian exporters are waiting to buy their rubles for tax payments until the tax deadline draws closer. Accordingly, we could see a rather sharp drop in USD/RUB to 63 next week.
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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