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RUB: trading in a thin range

 
13.02.2014
On Wednesday, RUB was trading in a thin range of 40.40-40.50 vs. BASKET and 34.75-34.85 vs. USD. Overall, the turnover was around USD 3.8bn, which is close to the average volumes in recent weeks. Overall, the market is showing signs of stabilisation and implied USDRUB volatilities dropped below 10% as the market did not expect RUB to test the CBR offering sides again. Tax payments start next week and the market is to be pressured by export-related flows.
Maxim Korovin, Anton Nikitin
VTB Capital analyst

Tags:
ruble

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