Page 58 - RusRPTMar20

7.0​ FX
RUSSIA -FX
2016
2017
2018
1Q18
2Q18
3Q18
4Q18
1Q19
2Q19
3Q19
4Q19
2M20
Currency (units per EUR) (eop)
64.8
68.9
79.5
70.4
73.4
81.0
79.5
72.9
72.1
71.5
69.8
73.7
Currency (units per USD) (eop)
61.5
57.6
69.5
57.1
62.7
70.0
69.5
64.8
64.3
64.7
63.0
67.0
Currency (units per EUR) (average)
74.4
65.8
74.0
69.9
73.7
76.0
76.1
75.1
72.6
72.0
69.7
69.2
Currency (units per USD) (average)
67.2
58.4
62.7
56.9
61.8
65.5
66.7
66.1
64.6
64.7
62.9
62.9
source: CBR
The Finance Ministry deal to buy the CBR's stake in Sberbank at the market price with money from the National Wealth Fund (NWF) will boost the value of the ruble. ​According to the CBR, the deal will be split up into several tranches and will require the CBR to sell FX from the NWF. The sale will take 3-7 years, with the ruble appreciating 1.3-3.0% against the dollar from the current level depending on the time frame.
The ruble is among the most actively traded EM currencies and sanctions episodes in 2014 had a significant impact on market liquidity.
58​ RUSSIA Country Report​ March 2020 ​ ​www.intellinews.com