On June 27, the Moscow Stock Exchange begin trading in the foreign exchange market with the Uzbek sum, Armenian dram and South African rand, the trading platform said, RIA Novosti reports.
The statement said, “On June 27, 2022, the Uzbek sum, Armenian dram and South African rand will begin to be traded in the foreign exchange market of the Moscow Stock Exchange.”
“The new currencies will expand the trading opportunities of professional market participants, their customers – including subjects of foreign economic activity.”
Trading participants and clients will have access to spot and clearing tools for the following currency pairs: South African rand – Russian ruble (ZAR/RUB), US dollar – South African rand (USD/ZAR), Armenian dram – Russian ruble (AMD/RUB), US dollars – Armenian drams (USD/AMD) and Uzbek sums – Russian rubles (UZS/RUB).
The exchange will later announce the start of trading in the UAE dirham – Russian ruble (AED/RUB) and US dollar – UAE dirham (USD/AED) currency pairs.
In early June, Andrey Skabelin, Director of the Foreign Exchange Market Department of the Moscow Exchange, said in an interview with RIA Novosti that the Moscow Exchange plans to start trading in Armenian drams, Uzbek sums and Emirati dirhams in the coming months.
