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USDRUB Dips, IMOEX Extends Thursday’s Losses Following Rate Decision

RUSSIA
  • USDRUB on the MICEX exchange dipped on the back of the larger-than-expected rate hike. Of the 14 economists surveyed by Bloomberg, 9 saw a smaller 100bp increase compared to the 200bp delivered by the CBR. The rate is down over 1% on the day, though above this week’s lows. 92.445, the Sep 12 low, is the immediate support level to watch.
  • Meanwhile, the benchmark IMOEX equity index also dipped, and sits 0.55% in the red at typing. Its losses this week stand close to 2% though the index had closely matched August’s YTD highs on both Monday and Thursday this week.

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