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RUB: marginally weaker

 
24.04.2014
Yesterday, RUB closed flat against USD (35.68) and BASKET (41.81). Meanwhile, the rest of the EM FX space surrendered 0.2% against USD on average: in particular, ZAR lost 0.4% together with TRY. Hence, RUB continued slowly outperforming its peers. Overall, weaker global risk sentiment weighed on the EM FX yesterday. In addition, lower crude oil prices put pressure on the performance of commodity-driven currencies (including RUB); in particular, NOK ended a little weaker, while AUD slipped 0.8%.
Maxim Korovin, Anton Nikitin
VTB Capital analyst

Tags:
ruble

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