Russia FX/Rates Snapshot - September 27, 2021. Rising Oil Prices Boosting Ruble
This morning, Brent has extended its gains and reached $79/bbl, while the ruble has strengthened further to 72.6. In our view, if oil prices rise to $80/bbl, the ruble could advance all the way to 72.3 today - it is also being supported by exporters, who may be selling FX to raise rubles to pay a R670 bln tax bill 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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