The Bank of Russia has announced a pause in Hong Kong dollar trading starting June 13, alongside a shift in the Moscow Exchange’s daily start time for foreign exchange, precious metals, and derivatives markets to 9:50 Moscow time. This update was disclosed by the regulator’s official site.
According to the publication, beginning Thursday, sessions on the foreign exchange market, the precious metals market, and the derivatives market where settlements are made in currencies beyond the US dollar, euro, and Hong Kong dollar will commence at 9:50 Moscow time, rather than the previous schedule. This change affects the timing of activity across these segments and aims to align market operations with current regulatory guidance.
Earlier, a press release from the Central Bank of Russia noted that the Moscow Exchange paused foreign exchange trading in dollars and euros due to sanctions imposed by the United States Department of the Treasury. Market participants were informed of the impact on liquidity and the need to adapt to evolving sanctions-related constraints.
As of June 13, the Moscow Exchange will suspend trading in US dollars and euros in response to ongoing sanctions, with the exception of currency pairs involving the US dollar and euro at certain market segments. The exchange emphasized that starting on the following day, all instruments traded in the foreign exchange and precious metals markets will operate under this revised structure, while currency pairs consisting of the US dollar and euro will be treated differently within the broader market framework.
Officials have reiterated that Western sanctions pose significant challenges for Russia’s financial markets, prompting strategic adjustments to trading hours and currency exposure across key exchanges. Market participants are urged to monitor official updates for any further modifications and to prepare for heightened regulatory scrutiny as global conditions continue to shift.