With the “tomorrow” delivery on the Moscow Stock Exchange, the Turkish Lira has become one of the most popular currencies in terms of trading volume. According to this indicator, this unit of account entered the top 5 with a turnover of more than 2.4 billion rubles last week, informs The newspaper Kommersant cites its own calculations based on the statistical data of the trading platform.
“Last week, the total transaction volume of Turkish lira for delivery “tomorrow” exceeded 2.4 billion rubles. This is 60% more than the result of the previous week and is the second result of trading this currency on the Russian market in four years. During the working week ending September 16, 2022, there was more transaction volume, after which the figure reached 3.5 billion rubles.
This increase was due to several factors. One of the most important of them was the decrease in the volume of main transactions with the participation of other leading foreign currencies, including the dollar and the euro, mentioned in the article.
“According to the results of the week, the trade volume with delivery “tomorrow” with the dollar, euro, yuan, Hong Kong dollar, Kazakh tenge, Belarusian ruble amounted to 856 billion rubles. This is 3% lower than a week ago. As a result, the Turkish lira became one of the top 5 currencies in terms of transaction volume, surpassing the Hong Kong dollar in fifth place.
On February 6, economist Nouriel Roubini, who predicted the 2008 global financial crisis, declarationThat the geopolitical conflict between the US and China will affect the status of the US currency. He let the dollar fall for 10 years. A system based on the dominance of the dollar in the global economy poses a threat to developing economies due to domestic conditions in the USA – for example, due to inflation.