18:31, 30 September 2022 Page views 538 views

Moscow Exchange may sell ruble-dollar pair trading business

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Answering questions of the “Banks of Russia — XXI Century” forum delegates about the prospects for the foreign exchange market in the face of growing sanctions risks, head of the Moscow Exchange supervisory board Sergey Shvetsov noted that the bourse performs a function not only of commercial, but of “federal” importance as well.

“In this context, the pair will be maintained as long as the Russian economy needs dollar-ruble conversion. Part of Russian exports and imports is still calculated in dollars. But there is a fading trend, and I do not rule out that, probably, at some point, somewhere in the future, the Moscow Exchange will sell this business,” Shvetsov said. “However, that is definitely not the near future,” he stressed.

According to Shvetsov, “any business can be sold.” “Conceivably, if trade and investment relations of Russia with the outside world are not dollar-based, and the dollar loses its function, I do not rule out that it will no longer be of interest to either the regulator or the exchange; the business may be sold,” he concluded.