Russia FX/Rates Snapshot - September 18, 2018
This morning, the ruble has strengthened by 0.4% versus the dollar, while EM currencies are mostly flat. The local currency may be able to advance further in the absence of bad news, supported by the halt to the CBR's FX purchases on behalf of the Finance Ministry in the open market. Still, China could respond to the US tariffs today (earlier, it promised tariffs on $60 bln in annual imports from the US as well as some other measures that could include restrictions on US companies doing business in China). If harsh measures are announced, this would pressure EM currencies, including the ruble.
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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