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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.
RUSSIA
FX/FI MARKETS (FX open, Stocks Closed)
- Russia’s MOEX remains closed until the end of the week, while FX trading resumes today in illiquid conditions.
- Today is D-Day on payment for a $117m interest payment on its USD-denominated debt, triggering a 30-day window period to pay in USD or be considered to be in technical default by ratings agencies.
- A first potential default day is April 1st on the March 2, 2024, OFZ coupon, and a second on 15 April for the USD interest.
- USD/RUB BGN trades +1.43% higher this morning, having fallen -10.17% yesterday to close around 107.49.
- The cross traded within a 25.71% range (96.32-129.66) and is currently -17.48% below Friday’s close as negotiations seem to be holding promise and the CBR’s measures ensuring system stability for now.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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.
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