The Moscow Exchange announced a scenario of actions in case of a halt in dollar trading

Representative of the Moscow Exchange Group (MOEX: MOEX) Igor Marich said that stopping dollar exchange trading on the site in the event of sanctions being imposed will not create risks for the Russian financial market. According to him, the share of the American currency in trading volume on the Moscow Exchange has decreased significantly.

“We now see that dollar trading does not play the same role as it did some time ago. Few people have bills left. But in general, the share of dollars in servicing foreign trade operations and in the financial market, in the foreign exchange market is fundamentally smaller,” Mr. Maric said at a meeting with journalists (quoted by TASS).

He added that already now the official exchange rate can be determined both on the basis of exchange transactions and non-exchange transactions. The Moscow Exchange, added Igor Marich, has already done its maximum to prepare trading participants for possible sanctions.

In November, the director of the financial stability department of the Bank of Russia, Elizaveta Danilova, said that the regulator was working with market participants, including the Moscow Exchange, in case of sanctions. The Central Bank has prepared an action plan and necessary measures. Last month, St. Petersburg Exchange came under US sanctions.

Read more in the Kommersant FM article. “Moscow Exchange tried on the sanctions model.”

Lusine Balasyan