A board with the brand is on show exterior the workplace of the Moscow Change within the capital metropolis of Moscow, Russia March 24, 2022. REUTERS/Maxim Shemetov
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Aug 22 (Reuters) – The Moscow Change (MOEX.MM) will ban using {dollars} as collateral to underwrite transactions, it stated on Monday, as Russia seeks to chop dependence on currencies of countries which have imposed sanctions on it.
An announcement posted on the trade’s web site stated the brand new coverage would come into impact on Aug. 29. It gave no particulars.
Earlier this month the trade – the nation’s largest bourse – stated it could restrict using {dollars} as collateral to 25% from 50%. learn extra
Russian authorities have voiced issues about particular person and company holdings of currencies that it phrases “unfriendly”, calling for his or her conversion into alternate options. learn extra
The USA and its allies have imposed a number of rounds of sanctions, together with these focusing on the nation’s largest lenders and Putin, since Russian forces invaded Ukraine in February.
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Reporting by David Ljunggren; Enhancing by Jan Harvey
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