The Moscow exchange allows the sale of the dollar/ruble pair trading business
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If the share of the US dollar in Russia’s foreign trade continues to decline, the Moscow Exchange will sell its dollar-ruble currency trading business. This was told by the head of the supervisory board of the exchange Sergey Shvetsov. According to him, so far the issue of selling the asset is not on the agenda.
“Hypothetically, I do not exclude that if trade relations with Russia are not dollar-based, I do not exclude that it will not be of interest to either the regulator or the stock exchange and the business can be sold,” Mr. Shvetsov commented on a potential deal at a business breakfast as part of the Banking Association forum Russia (TASS quote).
He emphasized that the exchange will sell the asset “obviously not in the near future.” “As long as the Russian economy needs a dollar-ruble conversion, this pair will be supported – part of Russian exports, part of imports in dollars. But there is a fading trend,” said Sergey Shvetsov.
At the opening of trading, the Moscow Exchange index amounted to 2152 points (+1% compared to yesterday’s figure). Yesterday, September 21, amid news of partial mobilization in Russia index fell by 9.45%.
The current exchange rates of the dollar, euro and yuan, as well as quotes of the main indices and stocks on the Moscow Exchange are available on a special page.
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