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RUB: down like the rest

 
13.10.2014

On Friday, RUB continued weakening in line with the general EM FX trend. Hence, it lost 0.6% against USD (40.37), while EM FX index slipped 0.7% vs. USD. Specifically, we highlight that TRY was down 0.8%, BRL slipped 1.3% and ZAR with MXN declined 0.4–0.5%. In addiion, NOK surrendered 0.6% against USD, while NZD and AUD gave up 0.7% and 1.1%, respectively. Meanwhile, BASKET traded as high as 45.26 on Friday, though it closed at 45.17 (+20 kopeks). Therefore, the CBR has shifted up the BASKET’s range five times from 45.00 to 45.25. This suggests that the amount of FX in interventions on Friday was near USD 1.75bn.

Maxim Korovin, Tatyana Zueva
VTB Capital analyst

Tags:
ruble, basket

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