The Russian Banking Association evaluated the future of the ruble against the backdrop of sanctions against the Moscow Stock Exchange 15:20

It is difficult to predict what the dollar and euro exchange rates will be after the Moscow Stock Exchange announced the suspension of trading in these currencies. In an interview with the Parliament Newspaper on this subject, said President of the Russian Banking Association, Academician of the Russian Academy of Sciences Garegin Tosunyan.

He reminded that in addition to the Moscow Stock Exchange, there are other platforms where trading takes place, including over-the-counter platforms and other exchanges. According to him, the stability of the ruble largely depends on the Central Bank of Russia, not the stock exchanges.

‚ÄúStock exchanges are still non-cash trading, they can influence the exchange rate slightly, but citizens are more interested in cash. <...> Those who need cash for travel should apply to banks. There they will be sold in dollars or euros, depending on stock availability. Tosunyan continued: “Each bank can determine its own exchange rate, taking into account its own foreign exchange needs and future risks.”

Moscow Stock Exchange previously reportedIt will halt trading in US dollars and euros from June 13 due to US sanctions. The trading platform noted that starting from tomorrow, all instruments will be traded in the foreign exchange market and precious metals market, except for currency pairs consisting of the US dollar and euro.

previously economist acceptedIt was stated that Russians may lose dollars in their accounts after the decision of the Moscow Stock Exchange.

What are you thinking?

Source: Gazeta


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