Russia FX/Rates Snapshot - October 15, 2021. Global Optimism and Rising Commodity Prices Boost Ruble
Yesterday, the ruble firmed by 0.9% against the dollar, breaking below the important level of 71.55 and reaching its strongest level so far this year at 71.4. The strengthening was fueled by oil price gains and global optimism. The optimistic mood has carried into today, with Brent approaching $85/bbl, which has enabled the ruble to test 71.25. If oil can break above the $85/bbl mark, the ruble would likely continue to firm and gain a foothold near USD/RUB 71.
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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