Forward from: Slavyangrad
🇷🇺 RUB is the best performing major EM currency over the last 3 months - why?
1) Real interest rates are high. Nominal interest rate (16%) - Inflation rate(8%) = Real Interest (8%)
2) Sanctions on MOEX and NCC - rub is the 'reserve currency' for local banks and corporations in a sense that when risk of new sanctions is high they reduce hard ccy exposure.
3) Exports are plentiful but importing can be more difficult. Exports > Imports
- Alex Isakov @ Bloomberg
#Source
@Slavyangrad
1) Real interest rates are high. Nominal interest rate (16%) - Inflation rate(8%) = Real Interest (8%)
2) Sanctions on MOEX and NCC - rub is the 'reserve currency' for local banks and corporations in a sense that when risk of new sanctions is high they reduce hard ccy exposure.
3) Exports are plentiful but importing can be more difficult. Exports > Imports
- Alex Isakov @ Bloomberg
#Source
@Slavyangrad