Select your city:

VTB Bank call center

+7 (800) 200-77-99
+7 (495) 739-77-99
For general information and enquiries

RUB: slightly lower

RUB ended yesterday’s session on a softer footing, losing 0.25% against USD (38.47) and 0.15% to BASKET (43.53). At the same time, the whole EM FX spectrum was under pressure yesterday. In particular, ZAR slipped 0.45% and BRL closed 0.30% weaker against USD. Overall, EM FX index closed 0.1% lower yesterday. Meanwhile, RUB has ignored the strong bounce in commodity-based currencies as crude oil partially recovered over the last couple of sessions. Hence, NOK gained 2.0% against US yesterday, while NZD and AUD ended 0.7% and 0.3% stronger, respectively. Overall, RUB continues to trade 13-14% weaker than the EM FX index YTD. However, next week taxes kick in, with MET due on 25 September. In light of this, we think exporters might increase hard currency selling and the emergence of a big offer could spur profit-taking in USDRUB.
Maxim Korovin, Anton Nikitin
VTB Capital analyst


Back to the list

VTB group news subscribe
  • E-mail subscribe
  • RSS lent
Download the list of cities.....