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Moscow Stock Exchange Stops Trading in US Dollars, Euros

The Moscow Stock Exchange announced it will stop trading the dollar and euro from June 13. There will be no financial instruments with settlements in these currencies in the stock and financial markets.

The stock exchange announced that trading in Moscow Stock Exchange markets, affected by US restrictive measures from June 13, 2024, will comply with current regulations. Trading will continue on the foreign exchange and Moscow Stock Exchange markets. It excluded currency pairs involving the US dollar and euro for precious metals.

The statement also added: “In the stock and money markets, and the unified derivative financial instruments market, trading takes place on all instruments, except those settled in US dollars and euros; trades in the derivatives market proceed as usual.”

Impact on Financial Markets

The Central Bank of the Russian Federation stated that companies and citizens can still buy and sell US dollars and euros through Russian banks. They assured that all funds in these currencies in accounts and deposits will remain safe. Moreover, the transactions will continue in the over the counter market.

سعر الدولار اليوم - صورة أرشيفية

 

The United States imposed sanctions on Russian financial infrastructure. It targeted the Moscow Stock Exchange, the National Clearing Center, the National Settlement Depository, the Russian National Reinsurance Corporation, and the Sogaz insurance company.

“A number of organizations have been included in the sanctions list against Russia. It is referred to as the Russian Financial Infrastructure,” the US Treasury said in a statement.

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