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RUSSIA: Central Bank Attributes Weak RUB to Growing Demand for Imports

RUSSIA
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  • Vedomosti report that the ruble has been steadily weakening in recent months, with the central bank attributing the depreciation in part to growing demand for imports amid stable exports. A drop in forex sales by exporters amid lower oil prices and the easing of forex repatriation requirements have also been cited as causes for the ongoing weakeness, with the currency expected to continue its slide until the end of the year.
  • South Korean President Yoon Suk Yeol and US President-elect Donald Trump discussed the presence of North Korean troops in Russia during a 12-minute phone conversation, Bloomberg report citing comments from Yoon during a press conference Thursday. It was not immediately clear what Trump said about the North Korean troops during the call.
  • There are no major data releases scheduled for today or for the remainder of the week.
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  • Vedomosti report that the ruble has been steadily weakening in recent months, with the central bank attributing the depreciation in part to growing demand for imports amid stable exports. A drop in forex sales by exporters amid lower oil prices and the easing of forex repatriation requirements have also been cited as causes for the ongoing weakeness, with the currency expected to continue its slide until the end of the year.
  • South Korean President Yoon Suk Yeol and US President-elect Donald Trump discussed the presence of North Korean troops in Russia during a 12-minute phone conversation, Bloomberg report citing comments from Yoon during a press conference Thursday. It was not immediately clear what Trump said about the North Korean troops during the call.
  • There are no major data releases scheduled for today or for the remainder of the week.