Russia’s central bank (CBR) hiked its base rate by a further 100 bps last Friday. The USD/RUB ‘fix’ declined visibly after the decision, but this move
Not much new information
Rate hikes cannot really address current Rouble weakness against the Dollar, because this exchange rate does not really exist in the conventional sense, nor can higher interest rates attract capital to Russia that it might have under normal circumstances. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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