MNI BRIEF: BOS's Escriva Calls For Gradual Moves To Neutral H1

MNI: UK JAN CBI INDUSTRIAL TRENDS TOTAL ORDERS -34

MNI China Daily Summary: Thursday, January 23

MNI BRIEF: China To Remain Second Largest Import Market

MNI BRIEF: CSRC To Promote Investment Value Of A-shares

MNI BRIEF: US Firms In China Less Optimistic For 2025

MNI: FRANCE JAN MANUF SENTIMENT AT 95

JAPAN DATA: Japan Dec Exports +2.8% Y/Y; Imports +1.8% Y/Y

MNI: JAPAN DEC EXPORTS +2.8% Y/Y; NOV +3.8%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

RUSSIA: RUB Hits 2-Month High, But Local Analysts Do Not Expect Strength to Last

RUSSIA
CEEMEAEM BulletRussiaBulletEmerging Market News
  • USD/RUB fell to a two-month low on Wednesday, dropping below 98.00 briefly before closing at 98.70. According to Kommersant, RUB is benefiting from seasonally weak demand for forex from importers, an influx of forex from exporters and a weaker USD on the world market. However, the newspaper’s analysts do not expect dramatic gains for the RUB and see it weakening considerably by the spring.
  • Consumer prices in Russia rose by 0.25% in the week from January 14 to 20, bringing inflation from the start of the year to 0.92%, Rosstat data showed yesterday. Annual inflation topped 10% as of January 20, reaching 10.04%, the economy ministry estimated.
  • According to the CBR, inflation at the end of 2024 above forecast values is primarily due to the underestimation of demand in the economy, including imports, as well as the weakening of the RUB amid “the effects of the strengthening of sanctions,” RBC report.
  • There are no major data releases scheduled for today or for the rest of the week.
164 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • USD/RUB fell to a two-month low on Wednesday, dropping below 98.00 briefly before closing at 98.70. According to Kommersant, RUB is benefiting from seasonally weak demand for forex from importers, an influx of forex from exporters and a weaker USD on the world market. However, the newspaper’s analysts do not expect dramatic gains for the RUB and see it weakening considerably by the spring.
  • Consumer prices in Russia rose by 0.25% in the week from January 14 to 20, bringing inflation from the start of the year to 0.92%, Rosstat data showed yesterday. Annual inflation topped 10% as of January 20, reaching 10.04%, the economy ministry estimated.
  • According to the CBR, inflation at the end of 2024 above forecast values is primarily due to the underestimation of demand in the economy, including imports, as well as the weakening of the RUB amid “the effects of the strengthening of sanctions,” RBC report.
  • There are no major data releases scheduled for today or for the rest of the week.