Bank of Russia Takes Steps to Increase FX Volumes on Moscow Exchange

[kreslik.news]

The Bank of Russia is taking steps to increase FX volumes and liquidity at the country’s largest trading venue, Moscow Exchange, in 2017. The central bank has announced that from the 16th of January firms with at least ₽1 billion (or about $16.3 million) in capital will no longer have to trade FX through the commercial banks and brokers.

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This move will help drive more currency trading to the leading Russian exchange, increasing competitiveness and removing friction, but it might hurt the private sector institutions that ... (read more)