The Moscow Exchange will stop using dollars and euros for floor trading
2024-06-12 21:42:39
On the evening of June 12 local time, the Moscow Exchange issued an announcement saying that due to the impact of sanctions, the exchange will no longer use the US dollar and the euro for foreign exchange and precious metals transactions from June 13. In addition, in the stock market, the money market and the standardized derivative financial instrument market will no longer trade financial instruments settled in the US dollar and the euro. The announcement said that forward market transactions are not affected and will be traded according to the previous rules. The Russian Central Bank issued an announcement on the same day saying that over the counter for US dollar and euro transactions is not affected and can proceed as usual. The central bank will use bank statements and information from the over the counter platform to determine the official exchange rate of the US dollar and the euro against the ruble.
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