/cloudfront-us-east-2.images.arcpublishing.com/reuters/NJTQPIQSBZM4VOUZOCIVNREYU4.jpg)
A board with the logo is on display outside the office of the Moscow Exchange in the capital city of Moscow, Russia March 24, 2022. REUTERS/Maxim Shemetov
MOSCOW, Aug 8 (Reuters) - The Moscow Exchange (MOEX.MM) will cut the maximum amount of dollars it will accept as collateral to underwrite transactions, it said on Monday, as Russia is seeks to reduce its dependence on currencies of countries that have imposed sanctions on it.
Russian authorities have voiced concerns about individual and corporate holdings of dollars and other currencies that it terms "unfriendly", calling for their conversion into alternatives. read more
The Moscow Exchange - the country's largest bourse - said it will from Aug 15 halve the proportion of dollars in the collateral that users of its platform provide to carry out transactions to 25% from 50%.
De-dollarisation in Russia has gained pace since Western countries imposed unprecedented sanctions after Russia sent tens of thousands of troops into Ukraine on Feb. 24. The sanctions have impaired Moscow's access to international economic and global trading systems.
The central bank said on Monday it planned to differentiate the cost of foreign currency loans for legal entities and their investments in debt securities depending on whether they were denominated in currencies of friendly or unfriendly countries.
Reporting by Reuters
Our Standards: The Thomson Reuters Trust Principles.
"exchange" - Google News
August 08, 2022 at 11:32PM
https://ift.tt/jzGNK9n
Moscow Exchange to reduce use of dollars as collateral - Reuters
"exchange" - Google News
https://ift.tt/LwgCznX
https://ift.tt/sJhKtf6
Exchange
Bagikan Berita Ini
0 Response to "Moscow Exchange to reduce use of dollars as collateral - Reuters"
Post a Comment