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Moscow Exchange to ban use of dollars as collateral from Aug. 29
Abstract：The Moscow Exchange will ban the use of dollars as collateral to underwrite transactions, it said on Monday, as Russia seeks to cut dependence on currencies of nations that have imposed sanctions on it.
A statement posted on the exchanges website said the new policy would come into effect on Aug. 29. It gave no details.
Earlier this month the exchange – the countrys largest bourse – said it would limit the use of dollars as collateral to 25% from 50%.
Russian authorities have voiced concerns about individual and corporate holdings of currencies that it terms “unfriendly”, calling for their conversion into alternatives.
The United States and its allies have imposed several rounds of sanctions, including those targeting the countrys largest lenders and Putin, since Russian forces invaded Ukraine in February.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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