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RUB: a step forward

Yesterday, RUB gained 0.2% against USD (38.59). Meanwhile, the rest of EM FX firmed 0.1% on average; ZAR outperformed, adding 0.3%. We believe that some exporters started selling hard currency ahead of tax payments, which probably helped RUB to outperform a little.
Maxim Korovin, Tatiana Zueva
VTB Capital analyst

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